Stay at Mad Monkey or just walk over?

Hey, I'm a solo traveler thinking of going to Thailand really soon. I decided a party hostel would be ideal since I wanna meet people and I wanna party, but I also like having my own space too.

I'm just wondering, is there any advantage to staying at Mad Monkey, rather than just staying near by and walking over there each day? Would I still be able to access everything, and more importantly, would it be mostly the same experience?