As it's a "resort", they don't have a lounge. Received a full breakfast buffet in the main restaurant each morning, which was very good. The room itself was disappointing, but had a patio with with a view of the ocean and the city. Very nice pool. Easy walk to town (about 1/2 mile along the beach road in front of the hotel). Cabs are on call from the doormen. Concierge can line up tours--they city tour is very nice.
The hotel has a large casino, but it's nowhere near as nice as any Vegas casinos, even though it's run by Harrah's. All gambling is in US dollars only, even though there are very few Americans there--most visitors are from Argentina and Brazil, so even if you have only Uruguayan pesos, you have to change them for US dollars at the cashier's cage before gambling. Minimum bets are $10.
Punta is a nice town (about 100,000), but I've seen much better beaches elsewhere. Good restaurants in town--ask the concierge.
All in all, a nice stay, but the hotel ain't that great.