I have done a ton of traveling in my life and this is the best Hostel I have ever stayed in. Their staff and ownership team are incredible, they have an attached brewery with amazing beer, a great atmosphere to relax and socialize with fellow travelers and a ton of insider knowledge to help you get around and enjoy all that this amazing area has to offer. Helps that its also about 100 meters from the beach and the visitor center is right across the street.
And again, like I said. Don't just stay in Port Campbell one night. It is central to the best that the great ocean road has to offer i.e. 12 Apostles, Loch Ard Gorge, The Grotto, London Bridge, The Arch, Childers Cove, Wreck Beach, Tower Hill Wildlife Preserve, Port Fairy, Triplet Falls, and a ton of other amazing spots that I couldn't even get to in 7 days.