As a warning, it is across the street from a night club and we did have one night where there were some loud people outside--but overall, the room and lobby/breakfast area were clean, the staff was pleasant, the continental breakfast was good, and the location for the price was awesome! Walking distance to many downtown attractions - 4th Street Live is just a few blocks away but if you don't mind a bit of a hike you can walk to the Galt House, many other downtown restaurants, the Yum Center, even the Louisville Slugger Museum.
Beyond the one night where there were loud people outside, the only other complaint I had was that the maids threw away my personal bar of soap. I'm not sure why they did so, but I was a little annoyed at that.
Keep in mind that this hotel is on the cusp of a not-so-great area of Louisville so I would make sure to keep your car locked and valuables on your person.