We drove into Bahia Blanca and the Austral was the easiest to find of the hotels listed on TripAdvisor. Good location two blocks from the central square and pedestrian mall; on the main street, but not noisy.
Would have to disagree a bit with the review that calls the Austral old, but a terrific value. The exterior wall on the side toward the plaza could use some work, but (as with so many places in Latin America that look a little unappealing from the outside) the interior is just fine. It has a slightly old "look", with dark woodwork and paneling, but that is a typical Argentinian style. It is not new, but seems well-maintained, and there is a newer addition to the hotel where the ""superior" rooms are located. Superior rooms have flat panel TVs and king beds, and from the glimpses I got the regular rooms looked well-furnished too. There is WiFi throughout the hotel.
In my judgment, the prices (US$80+ for a regular room, $90+ for a superior room) are not high, but not particularly low, either. They offer a reasonable but not "terrific" value for the money, in a city which is not particularly a tourist attraction. However I can concur with the remark about the helpful, mostly English-speaking staff (who recommended Taberna Baska, see separate review.) There's also a nice ambience in the lobby, with piano music in the evening, and in the dining room, with a fountain outside the window. If you get a superior room, try to get one away from the elevator, which is somewhat noisy (though it was not unbearable to this reviewer.)
In short, no one should think that this is either a decaying antique, or a place with amazing bargain rates, but it's a pleasant enough place to stay if you're in Bahia Blanca.