It's better than the first
The first was a fun, decent slasher but I think this one definitely steps it up. Goodnight looks a lot cooler and more sinister, the characters are a lot more likeable, the set is better/more atmospheric and it's better shot.
I saw a lot of complaints about continuous running through halls, but it was good to see a few chase scenes and it kept me entertained throughout. Another complaint about the movie was the lack of blood/gore, but at least 3 (if not 4) of the death scenes seemed pretty bloody to me. Would definitely recommend watching.