We stayed at the 2 bedroom suite, which was very impressive when we first entered.
The king size bed was so very comfortable, it seemed actually even wider than king (if it exists). The sheets and pillows were excellent as well. The AC worked great, and the bathroom seemed so cool, with huge jacuzzi tub.
BUT there was not enough hot water to fill even quarter of the tub, the water turned ice cold after that. AND there apparently was a crack in the tub through which the water kept sipping out.
On the second day when we returned to the room after day activities, we realized that there was a big puddle of water under the wet bar sink (where we unfortunately stored our bags), the cloths got soaking wet. The water kept leaking.
We called the office 4 times during that day and asked to fix it. The personnel was very nice, kept saying: "Oh, we are so sorry to hear this, we'll send somebody to fix immediately". At 11PM I walked to the reception and re-iterated the problem, got the same answer. Guess what? Nobody ever fixed it. We ended up throwing 5 towels under the sink to prevent the flood:)
The resort has a HUGE potential, I am sure it was amazing 10 years ago. They just need to repair the problems and it will be back to glory.
BTW, breakfast was good! We were there during winter and the fog was very dense, but I am sure on the clear day the view of Arenal from the restaurant must be breathtaking, the location is perfect for this.
Didn't try the SPA, so no comments on this.

Did not have hot water for two days, staff could not fix problem. Front desk lied about situation which was more wide spread then their statement that it was only our room. Got ant bites ouside room door. Food is only fair.

We stayed there Dec 2013 we booked a full suite and it was very spacious but it rained for three days and every time it rained we had water in the living room floor. It was a very long walk to the restaurant in the rain with no shuttle service and we were told there was Wifi in all the rooms but that is not so. We were moved to a Jr Suite and was not discounted the room price difference. The restaurant menu never changed and it was very pricey a bowl of soup was $15.00 us dollars and cocktails were $18.00 so be prepared and watch your room tab carefully. Also as our travel agent did not disclose that it is a three hour or more trip to any towns other than the small tourist town a ten minutes away which the taxi service charges $15.00 each way. The grounds were beautiful but most all the buildings (rooms) were very old and run down we had hot water problems in booth rooms and the air conditioning was poor at best. So if I visit Costa Rica again this will not be on my list of places too stay. The only bright spot was a few of the restaurant were so very nice and tried hard to make up for the short comings of the hotel

I stayed at this hotel last weekend and the drive took us a bit longer to arrive than we anticipated so we were most likely the last to check-in. The room we received was sub-par. The room smelled like urine and the pillows like mildew. The a/c window unit fell off the wall and was dangling by its wires. Someone could have been seriously injured if they were in the bed below the a/c unit. We were told that there were no other rooms we could move to that evening, but the next night we could move into a different bungalow. Fortunately the second room was much much better, but I still felt like the hotel could have done something since the first room was so unacceptable. I couldn't even fall asleep the first because of the smell and lack of an air conditioner. We weren't given an upgrade the next night, just moved into a different room. I felt like it was a little unreasonable to pay the same price each night given the drastic difference between the rooms.