New, very nice hotel. We (4 people) stayed in an apartment which consisted of two rooms, 2 bathrooms, and a kitchen living area. It is all very clean, very new, and very nice. The bathrooms are really nice as well. The best part of this hotel though is the view. UNBELIEVABLE. Also free internet, although it isn't wifi.
Downside: Far away from bellagio, but the shuttle service is very helpful. The seclusion from the town can be an upside as well though.
Overall, if you don't mind being a little way away from bellagio, I would highly recommend this place.