Fine Hostel, BUT
Do NOT use booking.com for this. They don't give you a reservation, just a spot on the waiting list for reservations, AND fail to warn you about it. The hostel was fine, just needed to pass along the warning.
When you stay at Youth Hostel Montreux in Montreux, you'll be on a lake, within a 5-minute drive of Freddie Mercury Statue and Chateau de Chillon. Limited parking is available onsite.