We stayed at the Canada hotel for four nights in March/April 2007.It has a very central, but discreet location between Rialto and St. Marks,on a piazza, which was very practical and nice.
Drawbacks were that the reception was on the 3rd floor, with no lifts. The rooms were small, but clean. We first got a room which had a private bathroom in the corridor, which was not what we expected, as it said "room with private bath". Also the bathroom got flooded every time we took a shower and the floor tilted the wrong way, so the water stayed on the floor.
We complained and got another room the next day, with a small bathroom connected to the hotel room. As we stayed near the reception, it became evident that there was almost no insulation against sound towards the corridor. It was like people were walking and talking inside our rooom!. Between the rooms there was no problems, solid walls. Fortunately people seemed to go to bed early, so the nights were quiet.
In the ad on the web, there was a picture of the roof terrace and elated boast about the amazing view from up there. This was actually one of the reasons to why I chose this hotel.When I asked the concierge it turned out that it belonged to a private hotel room!!!. So this I would call a real CON.We felt fooled.
For the price we payed per night, I was not very satisfied, but I guess one must accept that in Venice everything is double price of elsewhere.
So if you just want a clean, central place to stay and are not picky about other things when choosing a hotel, I can recommend Canada.