I recently stayed here for a week. For the most part I enjoyed it - the room was large and clean, the cafe provided a nice complentary breakfast, the staff was accomidating, and the night club and disco is large and popular. They have a pool and spa, but they are not included in the room rate, and use must be scheduled in advance.
From my standpoint the biggest drawback is the location- it is a good 30 minute walk to the center city, and a fair cab ride from the beach. It is close to a train station and a trolley runs right outside the front door, so if you know the local transit system that may not be an issue.
Another problem I ran into was noise - between the disco, which I could hear in my room, and a concert in a public plaza a half block away, I was blasted out any hope of sleep on the Saturday I arrived, which continued untill 2 or 3 am. If I had not been pooped from 28 hours of travel, this would not have been such a problem.
There was another concert in the plaza the night of April 1st, along with fireworks, which was nice (and ended at midnight).
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Theme: Hotel
Comparison: about average
Prices: US$120-180
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Phone: 38-04-87286651
Address: Italiansky Boulevard 4, Odessa, 65012, UA