The Sultan Hostel was full, so the manager put us up around the corner at the Tria Hotel for our return visit to Istanbul. As the Lonely Planet guide says, this is a new, well appointed hotel, with objets d'art. The staff are very good, the new lift works, it is very clean and most importantly smoking is banned.
But the hotel is not without problems. The room was around the back, on the top floor, just under the rooftop cafe of the Sultan Hostel opposite. On the night Turkey was playing soccer, it was very noisy. Also the on-suite toilet was blocked and the elelctronic switch kept turning the lights off every few seconds (wiggle the switch and it worked for half an hour and then turn the lights off).
You might as well have a room for about half the price at the Sultan, with lower quality fittings, but which work (mostly) and share in the fun on the street front and roof top cafes.