Old fashioned hotel, where everything seems to be at least 70 years old, especially the bedlinen. The floor is creaking (old wooden floor), there is no soundproofing, some doors didn't seem to close properly (mine was fine). I had a wooden plank instead of a bed base under my mattress (the mattress was however very good, so it wasn't a problem for me). No breakfast (not needed anyways, since there are a lot coffee shop / pastellarias around).
However, it is very central, cheap, and the staff speaks several languages (which is not often true in Portugal). All in all, it's good, but don't be surprised if you feel like you've just entered an antique shop when you first get in the room! From what I could see, some rooms seem more recent than others, the last floor (3rd) is maybe the last one on the TODO list.