We've never stayed at the blue chairs but really like the rooms there we've seen. Can't comment on the noise as we stay in our time share toward the marina (Villa del Palmar). My rec is not to stay in a gay place if you want peace and quiet. Just go to the gay venues when you want and then go home. There are many great places in PV.
I've never encountered any homophobic places there except (by local report) the Austrian Cafe Maximilian Restaurant and the affiliated hotel.