Personally prefer this one then the one in Silom, staff really friendly, great location if you want to shop.
As the name suggests it is a party hostel, you want to party go there, I stayed over a week. Sleeping before midnight impossible, but if you want to sleep before midnight go somewhere else. Staff really friendly although not everyone speak English. If you are staying somewhere else but want to party still you are more than welcome.
When I was staying there, it was in the centre of construction site, during night probably anyone can go in from the back, maybe when it will be over it will be better. There was no bar. Staff friendly and helpful, but when I was checking out earlier then I planed woman at reception didn't want to give me back all money, saying that they have to pay to Hostelword. Generally I would rather not go back.
Nice place, friendly staff, would go back again.