The Olsen is perfectly located on the top end of Chapel Street in SOuth Yarra, which is one of the best locations to be in in Melbourne. Chapel Street is full of great shops, restaurants and cafes, and it is very easy to travel to the CBD and other parts of the city from there. Based on location, I would give The Olsen 5 stars.
The rooms are also pretty great. I requested a Deluxe Twin Studio and was very pleased to see that we were given a one Bedroom Suite, so my mum (who i was travelling with) and I could have our own space. The rooms are all bright and with colourful paintings by John Olsen. The kitchenettes are also very handy, especially if you are staying for longer than just a couple of days, or if you are travelling with babies or young children. The only thing that wasn't ideal was the room cleaning service.
We did not eat at either of the hotel's restaurants (except for breakfast, which was very so-so), as unfortunately they were just not very appealing. Never busy, and with a very expensive menu (especially at Steer). The decor in Bluebottle was not very inviting either unfortunately.
My main gripe with the Olsen is the fact that their website very clearly states that WIFI is free from their hotel restaurants. Only when I asked to get on line while having breakfast, i was told that i should logon as I would in my room where the charge is AUS$3 per hour (ridiculous in itself). I explained to the reception staff that it clearly states on their website that it says free internet from hotel restaurants, but they insisted that this was not the case and had never been the case! So i had no choice but to pay to logon. When i got back home i checked the website again and yes, it still says that internet is free in the restaurants and so I explained the situation to the GM in a questionnaire that was sent to me. Haven't heard back yet - let's see what they say, if they bother getting back to me! I personallybelieve that it should be standard to offer hotel guests free wifi in these top hotels. Is such a rip off to charge - and for $3 an hour, it is almost so insignificant that it is pointless anyway.
Apart from that incdent our stay went well, and we did have some very helpful members of staff at concierge and reception who helped us arrange restaurants and day trips. I would recommend this hotel for location and quality of rooms, but not if you need to get online often!

My partner and i stayed at this hotel in approx. September 2010 (sorry for the timing of the review but better late than never and not September 2011 like it says but there was no other option). The purpose of our trip was for the Titanic Exhibition that was on at the Melbourne Museum and despite the fact that it was no longer winter, true to Melbourne's reputation, it was cold and wet during our trip. Reception staff were polite and check in was quick. We booked a deluxe studio suite and were on the same floor as the penthouse i think. I was quite high up. The view from our room was down Chapel St and was great also. Our room was clean and comfortable. Perfect to come back to after a day of shopping, sight seeing or a night out. The bed was super comfortable. Still remember it to this day. The bathroom was modern, however the door is frosted glass and had a gap in it once it closed. Not the greatest level of privacy at times. The shower also required additional towelling placed on the floor as it would get significantly wet otherwise, not a major problem when only a short stay though. Breakfast at hotel's restaurant Bluebottle was okay, had better. Slow service though given that it was not busy during our stay. The hotel itself is in a perfect position. Close to transport, shops and restaurants. Staff were helpful with directions. Caught a taxi to and from the Casino one night also which wasn't too expensive either. Hotel pool would be great during the summer months as it is partially outdoors and given that it was pouring rain and windy during our stay, we couldn't utilise it. Gym is tiny however we were not there to exercise however this may impact on people travelling for business purposes. Would i recommend this hotel to other travellers? Yes. Personally, i don't know if i would stay here again though only for the simple fact that i like to try out different hotels when i travel. I would have no problem in booking another hotel from the Art Series Hotels group though for a change.

The Olsen is nice, but nothing special. Most of all I liked the location in South Yarra.
It does no have anything special, it just a nice hotel with nice rooms, which are not too big. All room doors slam quite loud, so you can always here your neighbours entering or leaving the room. The gym is not really a gym, just some cardio and weights. i stayed during the Australian Open times, where hotels in Melbourne are extremely expensive. I payed 270$ per night, which I think was really overpriced. I am sure there are better hotels in Melbourne.

The staffs were very courteous and polite. They were considerate of the choice of rooms to be given to me as I'm a light sleeper. We had a surprise with Champagne & strawberries as it was a special occasion. The room was really spacious and bathroom very well appointed. One small issue was there was a constant knocking on the window, we checked but found nothing..wondered if it was birds hitting the window. But at night it was very quiet. I had a better rest and sleep here than at Blackman's. The location was great. Woolies and Coles nearby and very great restaurants, eateries. Shopping was aplenty for ladies. Overall I would pick Olsen over Blackman the next time. Great job Olsen, keep it up !