Hotel is nice...
Not sure if you're a Melbourne first timer or not, but I'm going to share as much info as I can anyway, don't take this the wrong way as I'm just trying to help you make an informed decision in case you don't know the area well.
It was just an fyi so you know that from the Hilton, or South Wharf, to get to central part of Melbs say Flinders station/Fed square, you're looking at least at 10mins walk across Seafarers bridge and then crossing that big road/highway entrance, then catching the tram with about 6 stops.
South Wharf around that hotel is quite dead, honestly you'll be able to count the number of people you see walk around in a day.
DFO(direct factory outlet) is pretty much the only shopping around there and it's Melbourne's equivalent of Perth's Harbour Town if you see what I mean(crap that doesn't sell and only good for sportswear). Restaurant/bars at South Wharf between DFO along the river to the Hilton are very empty and don't do well at all.
The only plus is that you'll be about 10mins walk to the Crown, but that's good if you plan to spend most of your time at the Crown only and not see what the rest of Melbourne has to offer. Around the crown is good with a few expensive designer shops and restaurant options with a few affordable ones then the rest very expensive(but amazing!).
I personally would stay in Southbank(East side of Crown complex) if I really wanted to be close to the Crown, it's a much more lively part with many more food/drink/entertainment options around as well as being 5mins walk to the Crown and 5mins walk to Fed Square/cbd. Otherwise around Collins street in the cbd would be another option.
South Wharf and Docklands are areas that aren't doing well in terms of human traffic/good business, specially Docklands stay away...
Go to Melbourne regularly if you're wondering....my 2 cents (more like 5 cents based on length of this post)...
