We were two friends going on a shopping holiday, so the hotel was a bit too far away from Oxford Street for my taste. The breakfast was alright, although it wasn't a full english breakfast as they advertised it. Location was okay, just far enough from the busy raod to get away from the worst of the noise, but still pretty close to the tube.
Biggest minus was the cold. We were there in december, and the temperatures was below zero at night - so we'd expected proper duvets, but instead we got sheets and blankets. Even with two blankets we still had to go out to by pajamas. Not good. A smaller minus was the beds themselves, they were quite hard, and you could feel the springs in your back, even though the hotel advertised that they had extra mattresses on the beds. But I guess this wouldn't have been that much of a problem, had we not been too cold to sleep the first night.
I recommend this hotel if you're going at a warmer time of year, and if you're planning on needing a basic hotel for sleeping and keeping your stuff while you're out and about. If you're on a romantic holiday, or plan on relaxing in your hotel bed - go somewhere else. This is a bit expensive too, considering what you (don't) get.
Oh, and bring your own hairdryer, as the one at the hotel doesn't have enough wind to dry anything.