Good location and environs.
You don't get as many amenities as you'd expect here, considering the price. The phone and TV in the room, for example, seem like they belong to a dilapidated, roadside motel. Basically, you're paying for the cool design (huge, pivoting mirror-door to the bathroom; lots of white everywhere; sparse decor; hard-wood floors; stark, Scandinavian-esque furnishings) and for the location it's a trade-off.
Location, location, location.
You're paying for the location here, because the rooms don't live up to the price points. Sure, the retro-Scandanavian concept is nice, but I expected a little more luxury for this price. Nevertheless the Ace is right in the middle of downtown and very close to all the bars, restaurants, stores, etc. The staff are nice but spaced-out.