Reasonably priced and located close to the JR station outside the north exit (near the Toyama-eki light rail station), Oarks Canal Park Hotel represented good value for the money. It looked and felt like a business class hotel. We had a twin room facing north where we could see the canal and even Toyama bay on a clear day. The room was clean and large enough that it didn't feel cramped. Reception staff spoke adequate English and was most polite, escorting us all the way to the lift and bowing as the lift doors closed after we had entered. We had a comfortable stay here, even if just for a night. Located at the less busy side of town, it was quiet.
The only minor problem is that access directions to the hotel from downtown or the south side of Toyama station is not very clear due to the way Toyama Station is laid out. One can't just walk through the station from one side to the other as in many other stations where the station building is built over the rail lines.
To get between the north and south sides, use the underpass that connects CIC mall from the south side of the station to Aubade Hall/Urban Place on the north side. Station entrances to this underground passage can be accessed near the ESTA mall/Dentetsu Toyama station at the south and near the Toyama Light Rail stop at the north. If you have baggage, use the escalators outside Aubade Hall/Urban Place. The hotel is located next door to Aubade Hall. It's about a 350m walk from the south side of the station to the hotel via the underpass.
For those using the Toyama Light Rail to visit Iwase, the hotel is conveniently located near the light rail stop. While access to shopping and sightseeing spots downtown is less convenient compared to hotels on the station's south side, downtown Toyama isn't that big. From the hotel, it takes just 15 minutes to walk from to Toyama Castle and 20 minutes to walk to Sogawa shopping street/Daiwa department store.