It's at the river, near the Guggenheim Museum and the most interesting things of the city, like the Arriaga Theatre, The Old Town, and the Deusto University. The bus to the airport (Bilboko Sondika Aireportua) is very close too. The hotel is very nice too, with comfortable rooms and nice personal.
The Barcelo Nervión is situated on the bank of the river and is central for exploring places of interest.
It's obviously predominantly for business travellers and as such, has a total lack of character. However, the accommodation is comfortable and spotlessly clean with good ameneties. I booked a double room for single occupancy for the very good price of €50 per night.
The hotel has a bar and restaurant. I didn't eat in the restaurant but the bar meals were good, albeit at typically high business-class hotel prices.