Firstly, the positives. Great central location. 5min walk or so from Sao Bento Train Station and the main tourists areas nearby. Hotel (as you would expect from an Ibis) clean and generally comfortable. Staff quite friendly on reception, nice little bar area. Was able to check in late morning too which was a bonus.
The biggest down sides is that the rooms were really hot and the fans didn't really seem to work very well and rooms we're quite small too. Continental breakfast was also a bit limited in terms of choice.
Would I stay here again if I visited Porto again? Probably not. At the same time I wouldn't not recommend it. It was okay, and served a purpose, but that's it. I guess it's what you'd expect for the price.