I recently spent a single evening at Hotel Paradox. It really is impressive. My understanding from my Santa Cruz client is the hotel used to be a college dorm. You'd never know it. Rooms are large and the amenities are terrific. They had to have completely gutted the place to do the reno. It's modern and the design brings the outdoors of Santa Cruz in. The restaurant is very good and everything is moderately priced. I do have one minor suggestion. The reception desk is awesome looking (a large tree turned on it's side). But, it's really off-putting. It creates a large distance between the clerk and the customer and the customer doesn't have anywhere to set down papers or anything else.
I do plan on staying here again.