Location is right between some major shopping streets, side streets, and some major sight seeing spots. It's close (7min walk) to the metro station if you want to go to Park Guell, Sagrada Familia, Barceloneta (Beach) or Castle Guell. It's walking distance to one of the opera houses and concert halls
It's walkable to many food options that stay open very late but don't open until 10am.
Biggest downside is from being in the center of everything, you hear everything and the window balconies are not very soundproof. There were people chanting from 1am to 3am and then people out at 5am yelling at each other. Again, you will sleep through it - if not ask for a windowless room as they are quieter. The balcony was beautiful to eat breakfast from, so we didn't mind the tradeoff.
The elevator was also a quite slow, there is only one, and it can fit about 9 people max, 5 comfortably. But I wouldn't let that sway you from the hotel as most are like that.