If you are looking for five star luxury, this is not it. If you are looking for a cheap place to sleep at night and don't intend on spending much time in your room bar sleeping, its great.
If you can, ask for a room facing the bay,The lack of air conditioning wasn't a big deal as the windows open wide and the breeze comes in from the bay so its quite pleasant, others in our group who had a courtyard facing room weren't as lucky and had to rent a portable air conditioner for 10 euro per night.
The rooms have single twin beds, a tiny shower and no tv or air con, but the bar downstairs sells 2 euro peroni's, so, still a win.
Make sure to bring some bottled water as the water from the taps isn't drinkable and the vending machine empties fast.More