I stayed there in 2006 and the rooms were a dump. VERY moldy smelling, ancient rugs, rock hard mattress (and I do mean ROCK hard). Lounge was OK, the Chinese restaurant was decent.
As to distance from the fair, it is right on top of a subway stop and it takes around 40 mins to the new complex.
Unless they have remodeled the rooms, I would never stay there again, and it was bad enough that I told them so.