Horrible,,,just horrible.
Just watched it last night. I haven't seen a movie that bad in quite a while. I'm sure Irving is a great writer, though movies based on his books have been uneven (I loved The World According to Garp, but Cider House Rules and Simon Birch were mediocre). That said, The Hotel New Hampsire just plain sucked balls.
(SPOILERS)
It has nothing to do with the unconventional subject matter. As Roger Ebert often says, it's not what the film is about, it's how it is about it. But the tone, music, and editing of this piece of crap is just shockingly bad. Someone might come along one day and sucessfully segue from a gang rape scene to a whacky running gag about a recently deceased dog, but in this one people, and that's just one example of how schizophrenic the mood of this film is.
Some movies are so bad that they end up being fun to watch, but this is not one of them. Avoid it at all costs.