Overall, I found this place a good value. The room was clean and comfortable, the a/c and cable TV worked fine, the staff were helpful and the breakfast was served on a tray and plate, not huge but enough and the food was good.
Managua is not a great place to visit, to put it mildly, but this hotel is about a 10 minute walk from a major mall. It's not close to any shops or restaurants. However, if you go out the door, turn left, walk to the first major intersection (at least 3 or 4 blocks), turn right, and walk 2 or 3 blocks more, you'll come to an American-style Boston-market-type modern restaurant on your right called Pollo Estrella that's open into the evenings (note - walking in this city after dark is NOT recommended!) They have beer as well, and even take credit cards. By the way, shortly after you turn onto that street, on your right, is a liquor store with a sidewalk counter.
The hotel will sell bottles of cold drinkable water - I won't drink tap water in Managua. There's a tiny place across the street where you can get a few snacks, and if you walk out and turn left a block or two, there's a pharmacy on your right.
The staff was very helpful in getting taxis for me and giving them directions I needed. (almost no one in this city speaks English) They'll help put you in a cheap cab to UCA (pron. OO-kah) where you can get cheap minibuses to Leon or Granada. If you want a bus to other Central American countries such as Costa Rica, they'll put you in a cab to Ticabus or Transnica.
A very special note. I checked out and went to catch a minibus to Leon and right after getting on the bus realized I'd left my money belt, with my passport, in my room! OMG! I quickly cabbed back to the hotel. The staff had already collected it and put it in the safe. No, nothing was missing.
They have free internet computers and they do work. And you can direct dial calls to the U.S. on their phone for the equivalent of five cents per minute. Do the math - that works out to only $3 an hour!
The one bad spot. The shower. It was awful. The water came out in a very thin trickle from a heavy white plastic electrical water heating thing. I had to stand in it for several minutes just to get wet enough to soap up and at least 10 more minutes to fully rinse myself off, and even then that was possible only with the help of a wash cloth that I soaked in the sink.
I discovered that cab drivers don't know where Villa Angelo (or much of anything else) is. Make sure you have their full name and address written on a piece of paper when you walk out of the airport to get a cab, and carry it with you to show any other cab drivers. I can't stress this enough.
My summation? Good value overall.