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We stayed at both these properties recently. I am Gold. Agree with the comments on the Sheraton Rio, although we did enjoy the stay. Appreciated the high ocean-view room, with the "small" patio. No lounge access for us, but did like the room upgrade.

The Barra location was a pleasant surprise. It is in the "condominium" area of Rio, in fact 1/2 of the Sheraton is for residence, other half the hotel, with a common pool/bar area.
Received a nice upper-floor room. All rooms are nice mini-suites. All rooms listed as "ocean view." Hotel is a slanted rectangular shape, with the long axis headed away from the beach. Since the building seems to "flare out" somewhat, I can see their claim that all rooms are ocean-view (but I doubt that for the 3 or 4 lower floors). We had a room toward the front.
Beach in that area is great, and we felt quite safe. Hotel does maintain an umbrella/towel presence there. Liked walking along the beach, and stopping to drink cocanut milk.
Several nice restaurants in the vicinity. All of these seem to have a shuttle; the concierge will call them, and they were timely. Same for return trip.
Our big benefit; as Gold, got late checkout (4 PM), great for our early-evening flight. Otherwise, the posted sign indicated such a cost was $60- $120 U.S., depending on type of room.
Two bad things about the Barra. 1) It is some distance from the Lebron-Copacabana area, with all the nice features that area has to offer(but we have stayed there several times, so did like this new location). First-timers, definitely stay near the "traditional" area. 2) This hotel was the ONLY place in all of Brazil that we encountered no service charge on any bill! That means back to the U.S. type of tipping.
All in all, we did love the Barra, and expect to stay there again. And felt nicely treated as a lowly-Gold!