I stayed at the Melia for 8 nights in December 2012. I found the hotel to be comfortable, centrally located and reasonably priced (~$160/night). I was a bit nervous after reading the complaints of the noise from the bars across the street. My room was directly in line with 2 bars, and with the windows closed I didn't even notice it.
The gym/pool lacks a little to be desired and as others have pointed out the pay for wi-fi is a little annoying.
Overall, I found the hotel to be good for the cost and would recommend it to friends.