My friend and I (we're both girls in our mid-late twenties) just got back from a 9 night stay at the Siesta Suites and had a wonderful experience. The hotel is very small and cute with a real Mexican feel. The staff was very nice, helpful and friendly. The rooms were very clean. We had a suite with kitchenette, so we went to the grocery store and got food for breakfast and stuff to make sandwiches to take to the beach. If you're expecting to be pampered and waited on hand and foot it might not be the place for you, but if you're looking for a nice, clean, safe place in the middle of everything this is the place for you. It is a decent walk to the beach, and a short walk to all the bars and restaurants in downtown Cabo, we didn't end up taking a cab anywhere. I do have to say the showers got cold pretty quick, this didn't bother my friend but it did bother me a little at first. I love long hot showers, but the Baja is having a water shortage so I got used to it and helped preserve water. It is definitely a walk to the beach, be prepared to walk 15-20 minutes. You can also take a water taxi, but we walked every day and it wasn't bad. The pool is very small, we never went in, we would have but no one else does and the restaurant is right there. Also they sell water in the lobby of the hotel, 2 gallon jugs for $2, and it's the same price as the grocery store so just buy it there instead of hauling water from the store!
It was also our first time to Cabo, we ended up loving it and would return, but I have to say it's very Americanized and can be very expensive. If you go to all the main tourist spots you're going to spend a lot of money. Drinks at the major clubs were $5-8, comparable to prices we pay here in Boston which suprised us. If you go off the beaten path a bit you can definitely find some deals though. The taco stand around the corner is great, I got 3 tacos for $4.50. There's fruit stands where you can get a large bag of fresh fruit for $4, and even get chili sauce and lime juice on it, delicious. Right up the street is Crazy Lobster where you can get a meal for $5-10, plus shots of Cuervo are only $0.70. If you want to splurge a bit I would highly recommend Salvatore's, the restaurant in the hotel courtyard. We were a little leary of going to an Italian restaurant while we were in Mexico (especially because we're from Boston and have the North End), but it was DELICIOUS. We ended up going there twice, and all the waiter's are great. As for clubs, Cabo Wabo is for the older crowd's playing older rock music, or you can go to Squid Roe or Zoo for a younger crowd and hip hop. We ended up going dancing every night and felt very safe walking home. The hotel even has a night doorman who lets you in, and will not let anyone not staying at the hotel in which made us feel very safe. There are lot's of people all around Cabo trying to sell you timeshares or activities and excursions, or selling items on the beach, they come up with all kinds of lines to get your attention, just get used to saying "No Gracias" and they will leave you alone. Also make sure to barter if you're buying anything, they'll always bring there prices down, and if they don't there's someone else right next to them that will.
I would definitely return and recommend this hotel to anyone!