The hostel is complete with a restaurant so unless you want something more special, you don't need to look for lunch/dinner elsewhere.
We were accommodated in a small room, normally given as a single room, but this was compensated for by a 200Kc voucher to use in the restaurant or against future stay. As we stayed only one night, and literally used the room just for sleeping, this was not an issue.
Although we had a window on to the street, which was very noisy, the rest of the hostel was ok, clean, with a large equipped kitchen, clean bathroom and toilets, and a very good breakfast buffet.
It's not far from the main train station, and close to the tram and buses into the city, and there is also a decent selection of shops along the street.
All in all a very satisfying stay.