In a city where the average nightly hotel rate is easily twice the Alpina's, it would be unreasonable to expect a 5-star experience. Rooms are rather old and could use some refurbishing, but they are quite large. The private bathrooms/showers seem to be a retrofit from the days before electricity and running water throughout the building. Not very comfortable and the plastic smell was impossible to excise from the room. Staff, however, is very friendly and breakfast plentiful.
The hotel is about a twenty-minute walk from either train station, but once there, the hotel (like most in Interlaken, I assume) provided us with a free bus pass for the duration of our stay, valid in the greater Interlaken area.
In all, a decent value for budget travelers who would rather explore the area than be pampered in a hotel.