This inexpensive hotel is located just steps from the Plaza Regocijo, which itself is just down the street from the Plaza de Armas. It is in an excellent location for historic Cusco. We were there on Good Friday and we had the good fortunate of witnessing the Good Friday parade/procession from our balcony.
The breakfast was also pretty good. Coca tea, coffee and fruit smoothies, and cereal, yogurt, fresh bread, avocado and jam rounded out the hearty selection. I really liked the interior breakfast courtyard space.
As for the negatives, the room is very basic and the walls are so thin that you could hear every one of your neighbor's steps. We came with two small children so we were probably the ones making the most noise in the hotel. Moreover, there was a car alarm that kept going off right outside of our window all three nights, and it definitely woke me up each night.
Lastly, the staff was super friendly. They let us leave our luggage there from 8am the first morning (prior to check in) to 11pm when we returned from Machu Picchu. When we arrived, the receptionist who I believe lives there was kind of drunk, pointed us to the bag room and gave us the room keys. It turned out to be the wrong room size, but we went ahead anyways. In the morning, it turned out that he had not registered us so the morning receptionist had no idea we had stayed there. This was more comedic than anything, not really a complaint. Overall good bargain though.