Being a native of the city, I have not stayed in any of the hotels, however, when my friends would arrive to Chernivtsi, I would come over and visit them sometimes.
Kiev struck me as old and not renovated. It's clean, but I think the hot water problem with it is the same as anywhere else in the city, unless you got the autonomous water heating system.
I don't the prices, but check them out, it might be more worthwhile to stay at a private apartment, although Kiev's location is quite advantageous - right in downtown. Not so recently a member of this message board, some guy, posted a message leading to the Epinions server. Here's what he wrote on hotels
http://www.epinions.com/./trvl-review-5762-3FE7E85-388F87BE-prod1>, maybe that would help.
Here's his opinion of Kiev
\\\\\\\\
Kiev - the hotel is located in downtown Chernivtsi, the rooms are scantily decorated, but again, if you are only looking for a place to sleep, then it works alright. The downtown part of the city tends to be full of hookers after 10 p.m.
\\\\\\\\
and he's right about the last sentence:-)