Expectations, it is all about your expectations. If you are looking for a luxury hotel, this is not the place. If you are simply looking for a place to sleep, not expecting to spend any time in your room, this is perfect. The location is a bit off the beaten path, a little difficult to find, but extremely close to most tour pickup locations, and right in the middle of Myeongdong shopping.
I admit, I booked thinking it was a hotel, but the sign specifically states Hostel. I was fine with the small space and lack of counterspace, but was surprised that the bathroom consisted of only a toilet and sink, no shower. (A wet bath I believe it is called.). This took some getting used to. The room was cleaned regularly by very pleasant staff, but the concierge was seldom seen. (Wanting to speak to someone for advice was one of the reasons I chose this place, but no one was available to speak to.)
For the price I paid, I was disappointed, but I realized it was really all about expectations. If you don't need much assistance, just a place for your belongings and a place to sleep, Philstay will work.