Like others, I've done the TWA hotel a couple of times in recent months after coming in on your flight, the BA183 but in F.
Be aware that my last two times on BA183, immigration took about 90 minutes for me as a UK passport holder without Global Entry. It seems to coincide with the arrival of a busy Qatar flight.
On one occasion I had an 8am departure the next day back at Terminal 8, and it was pretty brutal, having made it to the hotel beyond midnight using the Airtrain. I managed at most 4 hours sleep.
The TWA hotel is about a three minute walk from the Terminal 5 Airtrain stop, but you have to negotiate around some semi-permanant construction works, so it's not a great introduction if it's your first stay.
Signposting to the hotel is OK, as long as you keep your wits about you. The Airtrain is free between the terminals.
Although the TWA hotel is convenient, it's questionable style over substance, but I guess you can tick it off your bucket list, and stock up with red pencils.