My wife, our adult son and I stayed in this hotel recently on our way from India (Sunauli border near Gorakhpur) to Pokhara. Tansen is situated nearly mid way between GKP and Pokhara (about 4.5 hours in each direction), and therefore, Tansen makes a convenient stop-over. We had initially booked our two rooms only for one night, but Hotel Ranimahal turned out to be such a great find that we ended up spending another night also in this excellent hotel. That itself should tell you how good it is!
The hotel is located high up on a ridge, some half km from the main city market. You will surely need a vehicle to get here - otherwise the climb is quite daunting. A well-negotiated taxi would cost Nepali Rs. 300 to get to the hotel from the main Tansen market.
Since the hotel is on a ridge, it offers excellent views of the valley below and of the rolling mountains in the near distance. It is very calm and quiet, away from the hustle and bustle of the town. We had opted for their "Deluxe" rooms, which were quite spacious with good beds and a nice western style toilet/bathroom with plenty of hot water.
Hotel kitchen offers simple food, but can do you some Chinese dishes too. Their veg chopsuey turned out to be quite good, although the safest bet would perhaps be the local platter or a simple poori/bhaji.
The staff is polite and helpful, particularly the young man called Manish who mans the Reception.
All in all, a very pleasant stay. Go for it !!!