Honestly just give it a go and see. If nice suites are running about $400/night on Memorial Day weekend like you say, and you're OK with paying that kind of money in absolute terms, I doubt you'll be super disappointed and regretting it. The location is great, and like others have mentioned it's more of an art hotel instead of being very formal like the WA, so if that's more your style it should be good. I don't think you can really go wrong.