You can use tax_query and use the AND condition:
Reference: WP_Query under Taxonomy Parameters
$args = array(
'post_type' => 'post',
'tax_query' => array(
'relation' => 'AND',
array(
'taxonomy' => 'hotels',
'field' => 'slug',
'terms' => array( '1 Star' )
),
array(
'taxonomy' => 'location',
'field' => 'slug',
'terms' => array( 'loc1' )
)
)
);
$query = new WP_Query( $args );