I have stayed here several times for work and I love it. The decor is average, I agree on that, but the staff is fantastic. The EL IS well run, and I actually enjoy the breakfast because it's got (1) oatmeal which is good for you and fills you up for a while and (2) fantastic smoked salmon, which is probably the best smoked salmon at any Hilton. I always get a corner room which has a fantastic view of the city, the water (ish..), and the mountains. On a clear day you CAN see Denali from several rooms.
The second time I was here I got a room that was not as nice as the room I had on my first stay. I immediately called the front desk and explained this and they moved me to the better room. And every time I have stayed here I have had my parking comped. It could be because I tip the bell staff very well (they get me in and out of the cold ASAP!).
So now this is not the most beautiful Hilton in the world, but Alaska IS one of the most beautiful places you will ever go. What makes this hotel great is the people. They really seem happy to have me staying there, and I like that sort of treatment.
The only caveat to my review is that I only ever go to Anchorage in March and October, so I have never had to deal with cruise passengers or the busy summer travel season. Frankly just the thought irritates me. And because I go in the off-season, that may be the reason for the great service I have experienced.
I have a fantastic list of places to eat in and around Anchorage, and can share if need be.