Not the worst, not the best
Warning: Potential spoilers ahead!
While this movie enjoys the aspect of being a fairly fun movie, with several characters that are easily liked, and bad characters that build the background of our main character, it also falls into the trap of following too many cliches that weakens the overall story. The kills were great, but a few were too often seen in other movies. We see one character get tied up in a costume, to be killed by the main character who assumes she is one of the masked killers. We see too many exits that aren't really exits. We seen characters that have been fighting for their lives throw weapons to the side after assuming they had won the fight.
With all that being said though, as I mentioned above, I felt the characters were likable, with a male lead that is presented to us as the typical bro jock type, but turns out to be a nice guy, and friends that actually act like friends, rather than calling each other rude names and teasing one another. We have killers that act (and die) like human beings, rather than unstoppable juggernauts of destruction. We have an interesting setting that, while not completely believable, becomes an excellent "haunt" for our characters to try and escape.
As long as you don't try to think too hard, I think you could enjoy this movie for what it is: a fun, jump scare horror movie with a simple plot, and likable characters, along with some great gore (while not an over the top gore fest), and interesting special effects. Don't think too hard and you will find fun in this one.