When looking for a hostel in Barcelona, you'll find out pretty quickly that they are just damn expensive*. I was told that it's because Barcelona is such a party city, but it still blows my mind when comparing to other party cities, like Berlin.
*sorry for the "damn", but sometimes you just have to get your point across
So my absolute only negative for Bed & Bike hostel was the price. Coming in at 49,50 euro a night for a bed in a 16-mixed dorm, all the way to 60 euro a night for a shared room, and that is not including a breakfast. Although, you do get unlimited coffee and during off-season, aka NOT summer, you get inclusive bike rentals.
Now that the negative is out of the way, I loved my stay at Bed & Bike. It was actually the only hostel I've ever been at that I truly enjoyed. The hostel staff does a great job at making the atmosphere friendly and talkative. We all stay in hostels to a) save money and b) make friends, but often, people in hostels stay off by themselves and they do not mingle. Here, the staff gets conversations started and helps to jump start the friendship making. They have different themed nights, the best being Friday, when you can sign up for some homemade sangria :D they also do a bike tour one or two mornings a week that you can sign up for!
In terms of space, there is a terrace upstairs, a large kitchen and living room area, a lot of games provided, a pool table, and all the bikes for rent. Inside the dorms, each bed has a little curtain that you can pull across the side of your bed. I have NEVER seen this in a hostel and LOVED it. It really changed my sleeping experience. Everyone, when I was there, was fairly quiet and respectful of people already sleeping when they returned. The dorms and bathrooms were kept very clean and overall, the hostel is an extremely stylish/hip place to be. It's located in a nice part of town and you can easily walk or grab a metro to sightseeing haunts and food stuffing locations.
I would definitely recommend staying here if you are traveling solo! If you're with a friend or two, I do not think it would be frugal, you should probably instead get an Airbnb or something similar :D