Had I not visited (walked thru) the hotel on a previous day trip, it would probably get one star from me and I'll tell you why. But first, let me instead tell you why I am giving it 4 stars.
4 star rating: the staff were friendly and helpful; cleanliness- the hotel was impeccable; ambience- the hotel and the rooms are gorgeously appointed with nice art work, open spaces, and a great island feel with none of the plastic and party motif that is associated with the restaurants (not that I mind that as we go to the one in PCB frequently); and the beds- big, fluffy and comfortable. If it were just my husband and I it would be heaven... But it's not. We have twin 4yo girls...
1 star rating: food: we ended up not eating at Frank and Lola's because, quite frankly, we could go elsewhere cheaper and not worry about the kids. It if you don't have a car with you then your stuck. The hotel is not within walking distance to any other places. And Landshark Landing was closed for the season. So either hike it a while for some food, starve, or eat at the one restaurant, which happens to be one of the most expensive around. Activities: we stayed here for New Years and were surprised to learn there really wasn't much happening. And definitely nothing for kids. We ended up driving into Pensacola. Again, thank goodness we had a car. Speaking of the kids, good thing we brought a few beach toys because they don't have any and I didn't see any in the gift shop (maybe they do in the summer). Also, one of the kids got sick one day and my hubby had to drive to get her some meds. Not a fault on Margaritaville, but just think, if we didn't have our car... And the bathrooms, beautiful as they were, it is only a shower. A nice big, built-for-two shower. That's worthless with 4yos. And I don't mean the privacy factor. 4 yo don't take showers and there were no tubs, so if we had been there for a week and played at the beach everyday we'd have been screwed!
The long and the short of it is we really enjoyed our weekend and liked the hotel. But, if we had flown in, paid for a taxi, and then been stuck there all weekend with nothing for the kids to do, nothing to do for New Years, no places to walk to, and only Frank and Lola's to eat at, we would've been miserable and pissed.