I really did want to rate this hotel higher than I have, but it just didn't warrant it. This is an interesting hotel with unique decor. The staff is friendly and accommodating, and many (but not all!) of them are English speaking. My Russian is enough to get by so this was not a problem for me, but be aware that not all staff is fluent in English. This, however, is not a "con" for me.
The con was the noise level in this hotel. I was given a room on the 2nd floor and I had to change it the next morning (I was staying for 6 nights) because the room next to the lift is subject to so much noise from the lift going up and down. They changed my room without issue (pro), but even the other room was subjected to door slamming of all varieties and, inexplicably, noise coming through the ceiling at all hours. Whoever was in that room enjoyed playing loud music until well after 2am most nights (it was not intolerable, but I could hear it) and what sounded like rearranging the furniture. Every single night. I never got more than 4 hours sleep here without being woken up.
One of the issues is that I am a light sleeper - I don't blame the hotel for this. But the first two nights I stayed there (Fri and Sat) they were hosting weddings in the restaurant so there was a DJ and I was able to "participate" in all the festivities from my 2nd floor room, very clearly.
Overall, you can stay here and probably not have a problem. The breakfast is decent but the "Swedish line" is not much to get excited about. You can also choose fried eggs with bacon, omelet, or a number of other dishes. There is a 50UAH fee to have the breakfast delivered to your room. They also offer a very reasonable laundry service (I got several shirts, socks, underwear, and a pair of shorts done for <200UAH).
Will I stay here on my next visit to Kharkov? Sadly, no. But I don't regret here for most of the six nights that I did. If you like a "festive atmosphere" and you sleep like a log, you can't beat the value for money here.