We spent the first week of March here to celebrate a special birthday and see a city that had long been on our "one of these days" list. Neither the hotel nor the city disappointed us.
Having just spent a couple of days at a Ritz-Carlton resort in the U.S. the comparisons are irresistable. The Alvear Palace is more European in ambience, elegant to be sure, but the grandeur is understated rather than overwhelming. The Ritz-Carlton, while luxurous beyond a quibble, seemed to say "let us super-size that for you" -- just a bit over the top.
In terms of staff and service, the Alvear stands out, however, as gracious, accommodating, and there for you before you even think about it. Whether for coffee or juice refills at the lovely (included) buffet breakfast, or someone to press the elevator call button, or start the revolving door for you, there was always someone at hand. (For those concerned about safety in Buenos Aires -- a concern I consider overblown after our week there -- the hotel is ringed by discreet private security staff.) The concierge staff was exceptionally knowledgeable and very helpful in arranging several outings and dinner reservations for us.
We had two rooms during our stay. The first, recently redone, was a perfectly satisfactory "premier junior suite" that began to suffer from a mysterious humming vibration two nights into our stay. After a couple of brief conversations with our floor butler and the front desk, we were promptly moved and upgraded to a different suite. Both were fine, though if you have a choice the recently renovated rooms are likely preferable due to showers being separate from tubs. The staff handled the move smoothly for us while we enjoyed breakfast and a stroll around Recoleta. This is a good indication of the level of service here, as this experience in many establishments would have been fraught with stress.
Buenos Aires is a great city for walking (almost all traffic is one-way so you are only dodging traffic from one direction), and the Alvear Palace is a good point of departure for lengthy strolls toward the downtown center, or in the opposite direction through the enormous, leafy parks of Palermo. The Recoleta area itself offers lively outdoor cafes, good restaurants, and an abundance of upscale boutiques and mid-range shopping.
Incidentally, the end of February and beginning of March are good times for bargain hunting. Argentine clothing is sold in-season (that is, summer wear in summer), unlike the American practice of selling a season in advance (Spring and Summer sold in winter. The shop windows were full of close-out sales as retailers moved the last of their summer inventories, just in time for our North American season.
Bottom line: The Alvear Palace is highly recommended. It isn't cheap, but its very fair value for what you get.