The hotel is in a great location right in the heart of Toulouse. The central square is just a 5-minute walk away, the area is buzzing with restaurants and bars, the metro station Jean-Jaures is just a minute away, the airport bus stop (Jeanne d'Arc) is 5 minutes away.
The staff was cheerful, the room clean, the mattress very good. The air condition worked well.
However, the rooms are outdated and very noisy at night. The hotel website says they are renovated and soundproof - but it's not true. There is a noisy bar across the street (which seems to have the longest opening times of any bar in the vicinity), and the noise gets into the room even through closed windows. And according to the fire escape plan, nearly all rooms face the same direction, so there is no chance getting a "quiet" room here.
There were no free power sockets in the "recently renovated" room - I had to unplug the desk lamp in order to recharge my mobile phone. The only thing that was clearly renovated was the bed - it was really, really good.
There are no key cards, but bulky room keys, and no light switchs near the bed.
The automated outside doors only operate when there is reception staff present. There is no way to open them even if you have your room key. While the reception is occupied 24h, sometimes the employee has to walk away for a short time, and you cannot enter until he gets back - the sliding doors will simply not open.
I still think it is worth the price (nearby hotels with nice rooms cost almost 2x as much). But one should keep in mind that you get what you pay for - the building is outdated, the rooms are not nearly as nice as even in modern 2-star hotels.