I stayed at the Regaalis for 3 nights in Nov 07. It is clean, comfortable and central with a nice pool but is a bit boring .ie. a 6 storey modernish building of the type found all over the world.
Much better options IMHO are Windflower Resort, a Balinese-style hotel just out of town, or the Lalitha Mahal Palace Hotel, the Maharajah of Mysore's summer palace c.10 kms out of town now operated as a hotel by the Indian Govt. I ate at both Windflower and Lalitha and would rather have stayed at either of them; the only reason to stay at the Regaalis is its central location but if this is important to you I would recommend the Royal Orchid Metropole which is next door to Regaalis but with more character.

Hotel is not far from the city and within walking distance of several attractions. It has a nice entrance, a great restaurant where you can have buffet style menus or a-la-carte. It has a swimming pool. The carpet in the hallways is a bit art-deco but the rooms are massive. We booked a junior suite because there was not other room left and it had an interconnecting doors. The door was closed. But very noisy, we could hear the television from the other room as if it would be in our room, hear people singing along with the program. Overall the hotel was great, just be careful with interconnecting doors.

I stayed at this hotel for 2 nights. The rooms are spacious and filled with useful amenities. A well stocked mini-bar and a water heater to boil your water. However, the beds are uncomfortable and the rooms are not clean. The mattress is a 2 inch thick pad, covered with clean sheets, and a matted old blanket. A hard bed does not give you a restful night of sleep. I also had the experience of being greeted by a 4 inch long roach in the bath tub. When the manager on duty was contacted, he denied the problem and offered no solution. I would not recommend this hotel for a nights stay.