This hotel is great - clean, spacious, luxurious, great amenities, private, close enough to State St (the main street in Santa Barbara), very friendly staff, wifi, indoor parking, etc. Nothing negative can really be said about it.
But whether or not you choose to stay here i think really depends on why you're traveling.
If you want the luxury thing, to stay in your hotel room all day, to get a spa treatment, and be all romantic, then this place is for you!
If however you're in SB for any other reason, I'd say spend youre money elsewhere :)