you are in dubai at the end of the Eid holiday, where I can imagine a lot of people (with lots of cash to spare) are taking week long vacations, also, the shopping festival is on.. so the premium rooms may well have been sold at nice high rates to those customers. a quick look online shows that a sea view king is selling for AED 915 tonight ($250 before taxes)
the location of the sheraton jumeirah is unfortunate. take a look at
http://www.jbr.ae - it is a very large development and will envelope the ritz-carlton and the next hotel along the beach as well.
then of course, the water de-salinization plant on the other side of the hotel is a nice attraction as well.