We stayed here twice. Once for one night before going to Punta del Estes, where we were scheduled to stay 5 nights. We left Punta after two nights, and returned to the peace and tranquility of Colonia and the Sheraton for our last three days in Uruguay.
The hotel is beautiful, we were upgraded to a two room suite the second stay, which was magnificent.
The front desk staff and bell boys are fantastic, especially Christian.
Great pool area, nice looking golf course, located in a quiet, safe area only three miles from downtown, which is equally as quiet and safe.
The hotel's only fault is a weak, non existent restaurant manager, and there are a number of issues with the restaurant, which could all be easily solved with better management.
If you are visiting Argentina, and want to include Uruguay, as we did by flying in and then hiring a car and driving from Colonia to Montevideo and then Punta, DON'T!
Take the express Buquebus (as opposed to the slow boat) from downtown Buenos Aires (I believe it takes less than an hour) to Colonia. Take a $6 taxi to the Sheraton and spend two, three or four days here, with visits to the old town and it's restaurants and shopping.
We found nothing in Montevideo or Punta that enhanced our trip, spend the extra time in Argentina, which has far more to offer, and leave Punta for the rich upper class from Argentina who are seeking a summer beach vacation in a rental apartment. (Punta is a tired, jaded version of the Ft Lauderdale Spring Break of yesteryear.)