Stayed here a few times. Pretty nice place, and not too expensve. Was about $50/night or so. Close to the city center, about 5 minutes from Nevski Church, and an ATM right outside the door.
You want to get a room high off the ground, and/or in the part that is not above the disco. There was a disco right under the hotel, where I was staying, and I was on the 3rd floor and it was unbelieveably loud. I had to get up in the middle of the night and change rooms. The music was going right thru the floors, and it went on until 6am.