Odessa Hotel's location is very good (3 mins walk to the beach in one direction, 3 mins walk to Protaras main strip of shops restaurants and bars to the other) - that's the positive.
The hotel is generally outdated - needs serious renovation work in terms of most things (bathrooms, hallways, lifts, swimming pool) that matter to holiday guests. Most clients are families with young kids, so if you are looking for a more adult environment you better keep away.
We were on half board basis - far too much (quantity), good breakfast, but similar repetitive buffet dinner menu. Ok, but within 2-3 days bored with it. Better go for B&B only. Wine, draft soft drinks etc. are terrible.
We though we got a very good deal - overall, cost seems fair for what you get.