It's actually in a suburb called Budaors (ie, the other word that you left out of the hotel name).

It's reasonably practical if you have a car and are not focused on Budapest "downtown", but rather on locations in the suburbs (such as the "communist park") or the environs.

It's not as practical if you are mostly focused on Budapest "downtown", as you will have to drive and park on each visit.

I stayed in Budapest proper for 4 days for Budapest "downtown", then I moved out to that Holiday Inn Budapest-Budaors for everything else (after renting a car). It wasn't too bad going back into "downtown" in the evening, after rush hour, to a restaurant I wanted to return to, but that was because parking wasn't as tied up by later in the evening as it tends to be all day.

All that's walking distance from the hotel is a shopping mall across the freeway (there's a walkway across the freeway).