I really enjoyed my stay at this Hotel and Budapest in general. The Hotel is very close to the underground metro and tram lines, and is about a 15 minute walk to the Parliament.
It's located along Raday Utca which has many outstanding cafes and restaurants along it.
The Hotel staff were really friendly and the breakfast I thought was the best I had in Europe, but then again I thought Hungarian food was the best in Europe.

Yes, there really are only 3 hairdryers for 126 rooms, so take your own. In three days I couldn’t get one, despite asking several times.
Breakfast: €9 (charged on your bill in florints) but worth it, rather than hunting it out at a nearby café, which could cost you nearly as much. There is also a €4.50 early-bird (4.30 am. to 6.30) and ‘late-riser’ (10.00 to 12.00) continental breakfast so very flexible. The rolls and croissants were very good, lighter than they look, and a huge choice of fruit teas in addition to other food and drinks. The breakfast room was more pleasant than many, and not full (after 9 a.m.).
This really is a 2* hotel, as advertised, and nothing more. Our double room was adequate, on a non-smoking floor but with background smell of smoke, particularly in the shower room. The back rooms are quieter with higher rooms having a roof-scape view. The curtains had small holes in and had to be carefully arranged to stop sun streaming in in the morning. The bed was OK but its position was awkward and the base was a sharp-edged wooden box. There isn’t much storage and no room safe. The shower room was on the small side and combined soap/shampoo dispensers were more or less empty and not re-filled, so take own toiletries if this is important to you. There are no handtowels, and the bath towels are small.
Staff were pleasant and as helpful as circumstances allowed. Our main light switch failed to work properly but couldn’t be repaired as there was no-one available. Just think of the implications! It was fixed by the time we got back in from sight-seeing. Cleaning was thorough and inconspicuous, and the hotel is more environmentally conscious than many.
The big pluses of this hotel are the convenience for the Metro (Kalvin ter. on blue line) and Raday Utca (street) which is full of pleasant, reasonably-priced restaurants and cafes. Outdoor eating was already operating (21st April), even on wet days! There is construction work on the new metro line nearby which has had the benefit of making the street a dead-end, so quieter. Use air-con if the emergency services’ sirens will bother you – this would be the case in many city hotels.
Get a good rate direct from the Ibis website and you won’t be unhappy. Bills are quoted in euros, but charged to you in florints. There is a small tourist tax which amounted to around £1 per day to add at the end of your stay. Parking is €19 a day, so will bump up your stay if you drive, not needed as a tourist.
Take the Ulloi Ut exit from the Metro station at the moment and you’ll see the sign for Raday street restaurants. It’s a short and easy walk. Look for the large green Metro 4 balloon and you’re nearly there. The Szabadsag bridge, the nearest over to Buda, is only accessible by foot at present because of metro construction work. Using public transport (train and metro) it was less than one hour from Ferihegy (terminal 1) airport. It would probably be even quicker with no.200 bus then metro.

I stayed at the Ibis for a couple nights in February & chose it mainly based on price. It's a good deal & I guess I wasn't expecting much, but was pleasantly surprised. It seemed like it was newly remodeled. Rooms were clean. Staff was very helpful (the front desk scheduled a cab pickup & a couple excursions for me). The breakfast buffet is well worth the small extra charge -- plenty of things to choose from, including delicious pastries.

I was also very happy with the location. It's right on the street that my guidebook called Budapest's "restaurant row", so there were plenty of great dinner options just steps away! It would have been nice to have stayed at one of the many hotels right on the Danube, but it's not a far walk from the river & I saved myself some money.

I booked the hotel after reading reviews here in tripadvisor. I found I wasn't disappointed. The hotel was great value for money, we stayed at a peak time over new years and into new year. The hotel was very clean and the maid was in every day. We found even the maid went above and beyond, we left wet swimming clothing hanging in the bathroom from the baths and when we came back to our room it had been dried for us and left on our bed :) All the hotel staff were very efficient and friendly.

The breakfast isn't great at the hotel, it's €8 per person, I would recommend going to any of the cafes along the street.

For dinner we always ate in one of the restaurants along the hotels street (raday utca.) Gotti restaurant, time cafe, jaffa cafe all really nice and inexpensive. Service was always fantastic.

The hotel is right next to a subway stop which made it really easy to get around the city and home again, so there's no need for taxis.

They have a baggage room for you luggage if you have a late flight on the day you checkout, which is locked after you leave your luggage in.

I would recommend the hotel, it was clean, not noisy as the rooms are soundproofed, and the service provided was great. The location is fantastic too.