Since this has not been updated for a while, I thought I would add comments from my current stay:

Positives
* $199 rate was cheaper than Loews, Shutters, and other top hotels on Santa Monica Beach. $50 amazon gift cert promo on weekend rate ^

* Excellent staff throughout (quite rare) including valet, front desk, concierge.

* As silver was upgraded to 2nd floor balcony room ($350 rack) and later to 5th floor ocean view.

* Friday night valet car service was very quick.

* Nice thread count sheets and plush bathroom towels

* Nice 42" flat screen TV

* Can't beat location for walking to beach, restaurants, 3rd street promenade

Minuses

* Sinking mattress in first room (but firm in second room)

* 45min for ice delivery (had to call twice)

* Thin walls (more on this below)

* $11.95/day wireless internet (typical but annoying)

* $34 valet parking fee (also typical but still a rip as there is no street parking permitted 3-5am in this part of Santa Monica or permit only).

First night I suspected there would be trouble after family next door started slamming doors before dinner. Sure enough the noise started at 6:30am and continued intermittently for 3 hours as kids (in separate room) trudged back and forth to parents, loud in hallways, etc. So we were forced to change rooms today to maintain our sanity. Be forewarned there are a lot of families in this hotel with ill behaved kids (I say this as a parent).

Overall I was pleased with the value - this is the best property in the area that offers hotel points (compare with the vastly inferior Sheraton Delfina and Holiday Inn which aren't much cheaper) and is comparable to the far more expensive Shutters and Loews. Just wish they would divide into a family wing and no-kids wing