Stayed here for 4 nights with a Titan tour package - it was by far the best hotel of our 3, and overall was very enjoyable.
Recent reviews give a pretty good idea of what it is like, especially the September one by Ali (although our experience was not totally the same).
It may be worth adding a bit to those comments. It is not the prettiest of hotels, and although it looks as if rooms will be identical, they certainly are not.- there seems to be quite a lot of variation, so if you do not like your room, try to move (watch extra charges).
Best Points
* location - the best of the major hotels, and very handy (apart from a walk back if you skipped the taxis!).
* public rooms - big, well designed and quality fittiings, wonderful views. A pleasure to use.
* staff - a bit rushed in Reception, but otherwise very good (friendly, helpful bar staff etc).
* bathrooms - small but well equipped, separate toilet, decent bits and pieces.
* breakfast - excellent choice, good quality, lovely views, very enjoyable (they have now added an omelette chef)
* live music in bars etc - we enjoyed all this, including a big band one night! (justified the bar prices...)
Less Good Points
* views: some said "sea views rooms" (at extra 30-40E per night...) looked mainly over commercial port - our "mountain view" look over car park as well as mountain! Nice enough though.
* only one set of lifts, and then long walks to reach some rooms - one friend timed it at 4.5 minutes from their room to reception!
* our bedroom (471) was seriously small - it was fully fitted (lots of mirrors, shelves etc) but little room for cases, and we kept tripping over each other. Only room for one chair with table. Too small to be a 5*.
* room had kettle but no cups etc, and minibar with no contents (you have to order 6 drinks to start it off). Silly.
* we did not eat there in evenings, and heard mixed reports - some good, some poor (set meals seem to be about 36E). We ate out - 2 good meals in Casa Velhe next to hotel (about 30E inc drinks) , but two very indifferent meals elsewhere. Restaurants mainly full of ageing Brits!
* we arrived as a party of 48 - reception could not cope, and it took over 1.5 hours to get from coach to room with luggage. Not good enough!
* the "Tourist Office" in the grounds seems to be a front for timeshare. Poor idea in a major hotel.
Having said that, most people will enjoy staying here as it is well worth 4*. Funchal itself is mixed - it seemed crowded, mainly with Brits, and overloaded with coaches etc. Things generally seemed rather expensive (more than mainland Portugal for sure). - meals in local cafes in old town MUCH better value than on harbour side where we were shamelessly ripped off . Best part was catamaran trip to see 150+ dolphions (with babies) and 2 whales - great (althouh no commentary!!)!
Many people clearly love Madeira and return often - I doubt that we will, but if we did the Casino Park would be a potential choice.