From the outside, guests could easily miss the entrance, as The Exchange is tucked between a cafe and a pizza joint. A sign proclaims that the hotel "Has Rooms Dressed Like Models. There's a narrow hallway that leads to a red booth housing the front desk. Vibrant colors, strung lights, original artwork, and floral bouquets add interest and a slightly chaotic look to the public areas. Opposite walls of glass look into Cafe Stock, where art students, tourists, and hotel guests mingle at lunchroom-style tables. 

Surrounded by shops, restaurants, and cafes on the Damrak -- a busy road connecting Centraal Station to Dam Square -- Hotel The Exchange is set amid the bustle of central Amsterdam. It's a good location for tourists who want to stay in the midst of the city's activity  (with accompanying noise levels), as most attractions are no more than a five-minute walk from the hotel. Nearby transportation options give easy access to other parts of the city, and the Schiphol Amsterdam Airport is about 30 minutes away by car.

The 61 rooms range in size and design on a scale measured by one to five stars, with individual designers applying their own themes. Many are bright and airy with a minimalist modern decor, whereas others have antique furnishings and the exposed wooden beams of the original building; others mix several elements together. One room is built around the structure of a skirt, with a fabric installation enveloping the bed. Another room has zippers over the windows. Some of the upper-floor rooms are stunning, with great natural light and a view over Amsterdam on three sides, but other rooms are dark, almost oppressive (cage-like installations appear in more than one). Nespresso machines come in the higher-rated rooms but none have mini-fridges. White-tiled bathrooms are basic, with shower/tub combos.

There are three lounges that double as galleries, all of which have been styled by different artists -- one features a sprawling light installation reminiscent of a necklace (echoing the rooms dressed like models theme). The hotel operates a web store called Options! --it sells clothes and handmade goods, some of which can be seen displayed in the lounges and other public spaces. Cafe Stock embraces Amsterdam's late night party vibe, with strong coffee and an all-day breakfast. The kitchen uses locally sourced produce, and jams, and local beers (and wine) are available alongside sandwiches, salads, and apple pie.