Not bad value overall but this place has a few problems.
Breakfast is an expensive 26 euros for two and what is offered is coffee and a typical continental b/fast - they don't tell you that eggs and hot dishes are on offer in another area -- we took guests there and found out too late to ask for a hot meal - very embarrasing!
Watch out for the wedding receptions on the weekends - spills out into the only bar area and clearly hotel guests are 2nd preference.
Staff attitude was pretty poor - no apology for the hot meal debacle (but noticed next day that there were signs on the table offering hot meals- coincided with an outside survey team who were allowed to interrupt b/fast)
Oberoi
Stayed in this hotel for two nights on a business trip to Bilbao in March 2008. A very nice twin room was available for a very decent surprise price through internet. It was definetely worth paying (only) 7 euros (!) more a night than for an avarage hotel room elsewhere in Bilbao.
Room was spacious with a window wall between the room and the bathroom with a modern bath tub (toilet area separately in the bathroom area with its own door).
The hotel includes the spa area with Finnish sauna, but because of my flu during the first day of stay and the unexpected closing time of the facilities during the second evening prevented me from using them. A bit of shame.
Location is convenient some hundred metres from Santutxu underground station. Some value-worth restaurants nearby.
Great value compared to the other over-priced hotels in Bilbao.