My wife and I spent three days at the Oceano based upon a friend's recommendation. What a pleasant surprise! Our room was comparable o those we've had at the nearby Ritz. The mini-suite had a included a comfortable seating area with fireplace and an over-sized private balcony with a view of the harbor.
While the hotel amenities (bar, restaurant, spa,etc) are not quite on par with the Ritz, the older facility is very well staffed and maintained and and comfortable. We will definitely go back for another visit.