You can't get a better location than this! Holiday Inn is right by Times Square and walking distance to the subway, theaters, Central Park, etc.
It's not a trendy hotel or anything, but my room was comfortable and a good size (especially for New York). There was a microwave and fridge in the room but there's so many great places to eat (and not that expensive) that I didn't use them.
The price is high for a Holiday Inn, but very fair for downtown NY. This hotel is perfect if you're in the city for sight-seeing.