thereuare

ramja96,

That is a newer hotel and admittedly i'm not that familiar with it.  However, i can note...

• from the airport you're getting further from Manhattan (not closer)
• it's about a 45 minute train ride into the city, which RT is 1 1/2 hours commuting time, a big chunk if you have limited time in the area
• RT costs into the Manhattan looks to be $20/pp (could be a little more/less depending upon peak/off-peak) so if two people you're looking at $40 commuting costs... staying someplace such as Jersey City / Hoboken could reduce your NYC commute costs to $10 RT per couple and put the $30/nite savings into a nicer / more convenient hotel
• not sure of your dates or what times you expect to head to/from the city, but do check NJ Transit Trip Planner (surprisingly it works very well!) as service on many NJ Transit train routes can get limited on weekends and/or late at nite

Ultimately it comes down to the price of the Watt Hotel and how much more/less it would cost (after factoring in commuting costs) for something that would be nicer and/or move convenient. 

You also don't mention how long you're staying in the area (just one nite pre-cruise or 3-4 nites before your cruise).  It may make a lot of sense for one nite if you arrive early in the morning and have enough time to check-in to the hotel and then commute into the city (and still have enough time to enjoy Manhattan), but the longer you're staying and the more times you intend to commute into the Manhattan, the less attractive this location makes sense (imo) as the more it costs you in commuting expense and the more time you're spending/wasting on the train.

How many nights are you arriving before your cruise?

I'm very familiar with this area...

If all you need is a hotel room for the nite (ie- arriving late / departing early) any of the airport area hotels should suit your needs and be the most economical.  However, none of the hotels are that nice as airport hotels get 'beat up' pretty quickly as they have a lot of one-nite stays which increases wear and tear on rooms.

The next step in terms of convenience would be the hotels near the Jersey Gardens Outlet Mall.  These are all fairly new and the mall gives you something to do for the evening in the immediate area and/or a place to grab dinner.  The hotels in this area are more 'moderate' in terms of star ratings... Courtyard, Residence Inn, Extended Stay, Country Inn; the highest rated (and i believe the newest) is the Embassy Suites.

If you're looking for 'nice' i agree with the underutilized Jersey City Waterfront (and Hoboken) area which gives you more higher rated hotel options (Westin, W Hoboken, Hyatt on the Hudson, etc).   All of the Jersey City (along the waterfront) hotels provide easy access to the PATH train for access to NYC and there are plenty of restaurants that are walkable nearby if you don't want to head into the city.  For anyone driving in, keep in mind that this area has very limited on-street parking, as most of the waterfront area is regulated my residential parking permit, so you will almost certainly need to factor parking fees into your budget.

If really trying to save on costs and are near the Hudson-Bergen Light Rail (which most of the Jersey City Waterfront hotels, as well as the W Hoboken, are) you can take the Hudson Bergen Light Rail map to 34th St Station in Bayonne which drops almost directly at the entrance of the port.  However, it's still a mile or two from the port entrance to the ship, so from here you would need to call a taxi or uber to take you the last mile.  Not the most convenient, but i mention for anyone that is on a tight budget.

You can get an overview of the area at Pre-CruiseHotels.com by selecting Port Liberty Bayonne from the drop down menu, which will also makes it clear just how few hotels there are immediately by the cruise ship terminal. (NOTE: to see the W Hoboken or some of the Jersey City hotels you will need to change the default search from 5 miles --> 10 miles)

Good visual of the hotels and where they are relative to the pier:

http://www.hotelsbythepier.com