I was there as a hurricane wilma refugee while I waited for power and water to be restored at my place. Granted, given the circumstances, the hotel was not operating at 100%, but I have to say they made a profound impression on me....a very good one.
The rooms were OK...light, bright, and well maintained, but not luxurious by any stretch. The staff was friendly, pleasant and helpful. Parking is an issue, as you are basically a hostage to their valet service given the lack of street or self parking...so add about 16/day to your budget plus tips. Internet access is free (wifi in the lobby, cabled in the rooms).
This property appears to be a renovated old-style Miami Beach oceanfront hotel...and much of the property confirms this image, from the old/slow elevators (I could have walked to my floor faster with crutches) to the corny decor of the lobby and dining room which seemed to have escaped the renovations. When I was there, the kitchen did an incredible job leveraging everything they had on hand (there were no food deliveries for the first few days) to provide 3 meals a day (buffet style) at fair prices...with everything back to normal, the restaurant should have the normal fare with Denny's quality for breakfast/lunch and abit fancier offerings for dinner - but remember where you are - there are much more appealing options off-property, and at lower prices.
There is a small, basic exercise room, a nice pool and sundeck, and the beach is right out back with a nice boardwalk to stroll along. See if you can get a high floor oceanview room - it's well worth it.
Are you choosing Miami Beach for any particular reason? There are much more appealing properties to choose from in South Florida, including much nicer locales. Miami Beach in the Collins/40s area is not South Beach, and is an old, dated, ugly area trapped in the 1950s-60s. It might have been nice when my grandparents vacationed there decades before I was born, but it would not be on my list of hotspots now.