Great location, within walking distance to restaurants and bars in La Mariscal. The hotel itself is rather quaint and has a lot of character. I particularly enjoyed the terrace, which was great for hanging out early in the morning before heading out or in the evening when I wanted to relax. They also have an in-house restaurant/bar, which works well for when you don't feel like going out for a bite or a drink.
Since it's an older building, sometimes things don't quite work as they intended. But that said, the owner/staff is very quick to address any issues you may have. The owner is very hands-on and attentive, and as a guest, you will feel catered to.
Definitely recommended for visitors to Quito, especially if you're looking to stay around La Mariscal.