We were very impressed with Golden Residence. Very comfortable and clean with charming staff who wanted to please us. It is in a good position on the outskirts of the city - a 30 minute taxi ride from the airport (E25 arranged by the hotel and the same friendly driver who took us back there a week later - very proud of his town and gave us a description of the place in his impossible to understand English). The bus service was very good (occasionally late) into the center of the city from a bus stop right outside the hotel.
We were on a B&B basis and the breakfasts were excellent and we also had 2 very good dinners there as well. I cannot praise the staff more highly - all very helpful and smiling. We discovered a lovely restaurant round the corner called Doca do Cavacas (left out of hotel and down to small shopping area and then right down steps almost to the water's edge). The perfect little family (I presume) run restaurant with a small menu of excellent seafood.
As VictorSPbK says in his review, the rooms in Block A which is the top end of the hotel, are a bit noisy. Ours was not at the far top so we didn't hear the road noise but it ran parallel with a block of flats so we heard their noise (plus endlessly barking puppy left on a balcony all day long) and the two buildings side by side channeled the noise upwards. We had to shut the windows at night and use the AC which was a shame.