The executive floor is nice. As a Plat, I always get treated well (although I have stayed there extensively over the past 5 years). You will get offered a plat amenity and hopefully a corner suite...
I wouldn't say the hotel is in a remote location (Punta Carretas) -- it might not be the most convenient location if you have meeting in the Ciudad Vieja, but the hotel is connected to a shopping mall...
I was there in December -- a great stay, as always (I really like the hotel, as they treat me very well).
The "condition" of the hotel is very good -- it was built 5 years ago, so it's updated, clean, and "new"...
I hope this helps.