The Renaissance Chancery Court has one of the most important things for a London hotel - a great location. It's only a 10 minute walk to Covent Garden, the British Museum or the River Thames. Also in terms of transport, its in between Chancery Court and Holborn underground stations and masses of buses pass by. (TIP: When you come out of Holborn station look out for an orange stand which gives out great maps of the area and has attendants that will help you if you're lost or need a restaurant).
I got a special deal on the price of the Hotel, so its a bit difficult for me to comment on the value of the rooms. I will, however, say that the hotel is very grand, the lobby is huge and there's marble everywhere. I've stayed here more than once and the room sizes vary quite a bit but even the smaller rooms have a special feel. The service is also great, all of the employees seem very well trained and if there are any problems they are quick to respond.
On the downside, the view from the rooms isn't always great, sometimes you'll be facing a wall and even the view out onto high holborn is a view of a very busy business street. Other than that, its a great hotel which would make a good choice for a special holiday retreat.