The Andaz and Hyatt Regency are 100% in a better location. I haven't stayed in either as this is my first time in Savannah, so I can't comment on if the location deficit of the Thompson makes the property less desirable than the Andaz and HR when other factors are considered.

The Thompson is really just a "block" further from the Historic District than the Marriott Riverfront, but it's clear that "block" hasn't been fully constructed yet due to the several-feet-long patch of grass that must be crossed. I liken the Thompson Savannah to the Thompson San Antonio in that both properties are a bit further from their respective tourist centers than one might initially expect, but you can still walk to the tourist centers reasonably (if you don't despise walking) from the properties.

If you are looking for a hotel where you can step outside and grab a bite to eat at a local cafe, the Thompson doesn't fit that purpose at this time - depending on how Eastern Wharf develops, I think it might meet that requirement in due time.

For me, the hard product and soft product here made up for the location deficit, but YMMV and this is definitely a personal choice.