location location location
The Hilton Palacio looks very dated and ugly from the outside. Inside is very nice... not as nice as the Hyatt Riverwalk with the river running through it, or the Valencia with its ultra-hip modern decor. But very nice. The elevators are the coolest- they have keypads where you input your floor and it directs you to your elevator. We never waited for one. 
Our room was also very nice- modern decor, nice toiletries, rain showerhead, and VERY comfy bed. We had a balcony overlooking the riverwalk. Please note that this hotel is right next to a busy street, and we could hear traffic in the mornings and people on the rivewalk at night. The noise did not keep me awake, though.
Overall, the Hilton was a great value- we paid about $215 for a riverwalk king balcony room. The hotel is right in the middle of everything,whereas the valencia is kind of out of the way.