Hotel is located in a very interesting and quiet place of Riga - Kipsala island. It's also good and bad, as next to the wonderfully restored wooden buildings there are many awful desolate houses on Kipsala. Hotel is on the riverside, has it's own pier, so you can arrive on a yacht to it:). If you are lucky, you'll get an amazing view to the river and the old Riga's towers (I was that lucky).
The walking distance to the old town is 30 minutes, and 15 minutes to the nearest bus stop.
Room was very spacious, well equipped (air conditioning, satellite TV with over 100 channels, wi-fi), clean as I arrived. But there was no cleaning next day - they made my bed and took out one of two dust bins. When I specially asked to clean my room, they took out another one of those and that was it :-).
Breakfast was very poor - there is no buffet breakfast, you get your own 2 plates of something, and that's for additional 7EUR price to the room.
Despite the non-willingness to clean, staff at the hotel was very nice, polite and tried to be helpful.

Resume - it coul be very interesting choise of a hotel in Riga for a reasonable price. But don't expect a perfect service.