Being a landowner, and visitor to Cambodia beginning in 1969 (courtesy of the US Navy!), and re-commencing annually since the defeat of the Khmer Rouge by the Vietnamese military, I have stayed at many hotels within the country. The Walkabout has been my usual choice for a hotel to stay at when I arrive in Phnom Penh on my annual visits to my property up in the Ratanakiri Province of northeastern Cambodia.
It must be stated upfront, that this is NOT a hotel for families with children. It is primarily a bar where prostitutes congregate, often in large numbers, to pick up customers. It is located in the "gut" of an area with many such bars, and it also is a hotel and restaurant. The clientele is mainly composed of single men looking for a relatively inexpensive hotel to stay at that is open 24/7 for booze, good food, and female companions. The atmosphere is raucous, especially in the evenings, and gets downright wild on Fridays when they have a drawing for prizes and cash from an ongoing Draw the Joker card game.
Having said that, the owner, a New Zealander married to a Khmer, is a decent chap that strives to make the Walkabout a safe and clean place to stay. The staff are for the most part very friendly, and honest, however on my last trip, I did have my diabetic medicine stolen from my room refrigerator. I cannot say that it was staff who actually did it, as many drug users abound in the area and it could easily have been a hotel resident.
Illicit drugs are easily obtained in Phnom Penh, especially methedrine, and drug abuse is rampant. However, the open use of drugs is not accepted in the Walkabout bar itself and will result in being told to leave the premises.
The Walkabout will accept Visa credit cards for payment, and the owner will allow cash to be drawn on them for a 4% commision.
You can can also have various trips and travel tours arranged, along with good up-to-date information on where to go, and what to do. The owner Glen, and his brother-in-law Mol can always be trusted for good advice, and I have used their advice many times.
Rooms vary in price and quality, with a basic A/C room for about $12, and a few with actual bathtubs instead of the ubiquitous hand shower, for about $18-20. Stay longer and you stay cheaper. The rooms are pretty good, but this place is LOUD at night, so bring earplugs. Drunken people stumbling back to their rooms at night yelling and laughing are to be expected, as that goes with what this place is all about. This ain't the Hilton folks.
The location of the Walkabout is one of its best features. It's close to the main market area, close to the riverside area, and close to all the businesses you usually need, such as travel agencies, motorcycle rentals, barber/beauty shops, massage parlors (genuine and ummm...the other kind.), the bus station, and many other cool-to-visit places. Use a motodop (motorcycle taxi) or tuk-tuk (a motorized rickshaw) that is recommended by the staff at the Walkabout, and you can be reasonably sure of not getting cheated or robbed. The best deal is to pay the driver by the day to stay on call for you right outside the hotel. It should cost from $5-8 dollars.
As with any large city in the world, beware of the pickpockets and stay away from walking dark streets at night. Only carry enough money to get by the night with, and leave the rest (along with your Passport) at the safe deposit box at the hotel. Leave the Rolex and diamond rings back in the country you come from. Have several copies made of the "Face page" of your passport, and carry one in your wallet, instead of carrying your passport around. If you are an American and your passport is stolen or lost, you can visit the U.S. Embassy and generally get a passport issued immediately. No Face Page- expect a week or two wait.
Taking into consideration that the Walkabout is basically used by unattached males as a place to stay at that doesn't charge extra for the occasional overnight "guest", it can be a fun place to visit and exchange information with all the ex-pats and visitors from all over the world. Sit at the bar with a cold Tiger draft, and marvel at humanity.

having stayed in the walkabout i wholeheartedly agree with the previous reviewer all hotel owners should make an effort with their appearance especially in the tropics possibly taking a cue from bogart in casablanca white tails being so practical
perhaps all budget hotels should also consider a grand piano! and god forbid theowner should be friendly with his customers having conversations with scant regard to who might be eaves- dropping
with regard to the hotel/bar it does exactly what it says on the box clean rooms and cold beer and as secure an enviroment as any to get drunk and meet some of the local ex-pats sort out a visa get some advice on the city or get even drunker

Really just a front for a brothel. Owner Glenn would be better with a little more professional approach to his personal presentation - dresses like a bagman and it reflects on his hotel. He should learn to keep his thoughts to himself instead of gossiping about his clientile. Rooms are OK for the price but really is best described as a backpacker room or one for a short time with one of the many good time girls who frequent the establishment.