My expectations were fully met. It is not a luxury hotel, but it is acceptably comfortable, the room was warm all night, albeit the 0 Celsius outside.
The hotel is located near the main urban tourist attractions in Puno, and reasonably close to Lake Titicaca (after a tour of the lake, I walked back to the hotel in the late afternoon, in just 20 minutes).
All things considered, the price charged for this hotel was quite reasonable, the best value for money of my stay in Peru.