Personally, I do not consider the location of the Vila Galé Opera ideal for Lisbon visits. There is no Metro nearby and it is located practically under the access ramps to the Ponte 25 de Abril. However, I suspect you will have a good view of the Tejo if you get a good room.
Google Maps / Satellite Image Here: (Just below the A marker) (I suggest you copy and paste url into web browser)
http://maps.google.com/maps?f=q&source=s_q&hl=en&geocode=&q=Travessa+do+Conde+da+Ponte,+1300-141,+Lisbon,+Portugal&sll=38.711099,-9.174271&sspn=0.062152,0.154324&g=Alcantara,+Lisbon,+Portugal&ie=UTF8&ll=38.70137,-9.180837&spn=0.00777,0.01929&t=h&z=16
As regards transport:
The Carris Nº. 15E tram from Praça de Comercio to Alges via Belem & Jeronimos runs along Rua Junqueira which is near the hotel. If you take the tram to Praça de Comercio you can then walk up through the Baixa to Rossio and the Teatro.
See this link:
carris.pt/en/bus-line-details/15E/ascendente/
I would suggest being very careful using this service at night as it does pass through certain not so salubrious areas.
I would agree you should detrain at Sta. Apolonia. I would think the price will be € 10:00 upwards depending on number of persons and bags.