I stayed at the above hotel last September(2008). Not sure of the summer prices, but my price was reasonable. The location couldn't be better! Right on Viktualienmarkt, 1 block from the Main town square (metro located there). Very safe, very clean area. I stayed there by myself (30yr female) and felt very secure even at night. The people at the front desk were very nice and accommodating. I arrived very early and they let me keep my bag with them while I walked around till the time i could check in. It doesn't include free breakfast, but i believe they gave me a coupon for their restaurant. However there are lots of cafes in the town square - they open around 7am.
Check with Mike's Bike tours too, they have great bike tours of the city (not strenuous at all, very relaxed and informative); they also have day trips to the castles in the area - i highly recommend the Neuschwanstein day tour!
Excellent Location!
