My wife and I stayed here for 5 nights 12/10-12/15 and loved it. This is an older building compared to others in the area, but it doesn't matter, as they renovated recently and it looks good overall.
First, the PROs... Only 200ft from the beach, continental breakfast 7-10:30am, 2-story parking (under hotel), heated pool, lounge/bar with pool table, balcony (although shared), located close to restaurants and shops, microwave/tv/fridge/safe in each room, free wi-fi.
Now the CONs... All rooms have two double beds, drinks at the bar are expensive ($4/beer), none of the rooms look toward the ocean, elevators ARE a bit slow.
This is what a decent hotel in FL looks like. People who leave bad reviews are those who overpaid and expect a 5-star service here. Customer service is bad in the whole state, so don't take it personally. We didn't see any bugs in the hotel, an it was clean everywhere we've been. 5 bucks to park is comparatively cheap and you'll find plenty of parking during the day. Balconies are shared and can be accessed by anyone from inside the hotel, this is bad because you can't leave belongings on the balcony, and good because you can go up to the fifth floor and see the sunset and a little bit of the ocean. Because the hotel is surrounded by new taller condos, there is not much of a view, especially of the ocean. If you experience any problems with the hotel, it's probably an abnormality, as we had none. This IS a 3-star hotel, so if you're not too picky, you'll love it.