The Hotel is based in Wadi Musa, which is just up the hill from the gates of Petra, probably about 1 kilometer which make the price and distance away very well worth this location. At approx. 35Euro per double room, it’s good, but granted it is during low season.
I would recommend Al Rashid to anyone that’s looking at their wallet and wants a great experience in the old city of Petra. The market is Wadi Musa market is also nearby and local restaurants and shops are a stone throw away.
Please try it, you won’t be sorry!