I stayed there last August. To my knowledge, it's recently had a makeover.
Bedrooms are great (try to get a gulfview) with nice toiletries in the very plush bathrooms. Staff pretty good, wonderful beach (extra charge for sunloungers on beach and towels around pool). The pool can get pretty noisy with kids (there's a waterslide) and the breakfast/coffee bar is expensive and I wasn't impressed by the food (like a bad version of Starbucks).
We ate at the Aqua grill in the adjacent shopping mall (trendy, good service, so-so food). The hotel itself is about 5-10 mins taxi away from all the action on 5th (I can recommend Campiello's restaurant down there, but I've heard bad things about Tommy Bahama's).
Enjoy your stay