Terrible experience. Avoid at all cost
We spent about a week as a family during July 2012.
The hotel staff are all nice and pleasant, but some things simply cannot be tolerated.
There is a bar just next to the hotel that operates during weekend. It is so loud and noisy that sleeping was simply IMPOSSIBLE up to 1:30am at night. We were offered ear plugs by the people at the reception, but if i wanted to feel as if I am sleeping inside a jet engine I would stay in an airplane.
Unless something is done about this bar - the hotel California is no more an option.
This is the main point. 
Other small problems were - weak water flow at the bath (5th floor), car parking is only possible with Valet service which tends to be very slow - you need to ask for your car ever 30-40 minutes before you need it, and the service costs about 31$/day, Breakfast is very modest (no omelets for example). These things are to be expected in a low budget hotel (and we are experienced travelers - with about 3-4 vacations every year, worldwide) - the terrible noise at night is NOT acceptable.