We were in Key West for 5 nights, have tried all areas of the island...hotels by airport, b & b's, first stay at Pegasus. Will look no further in the future. It is right in the middle of Duval, rooftop pool is enough to cool off, jacuzzi is just right for the poolside bar in the evening. Bed was very comfortable, room size (1Q) was sufficient. Pillows make or break my night of sleep, and they were great. Little fridge & microwave, perfect for late night leftovers. We were on 3rd floor room, corner Duval & pool deck-only one night experienced noise. Pool bartender was very friendly & works the entire hotel-tip him big! Walgreens next door, keep your own beer cold in your room & have a few before you go out at night! I agree with other reviews there was no where in bathroom to put your personal items, but oh well. The front desk staff-not so friendly...but again, oh well. This is not a luxury hotel, but for sure you will want to stay when checking out the island by foot, can't get any better. Will definitely stay here again, price was right, location perfect.

Good - located right on Duvall St, hotel parking one block away, friendly staff, decent continental buffet included, big rooms with fridge, clean bathroom with big shower, great roof terrace with bar and swimming pool.

Bad - the bedspreads!!! Straight out of the 80's I'm sure.

So basically this is a great hotel, great price, great location. Don't listen to the whingers on here :)

Fairly bland, functional hotel, reasonable room size with comfortable bed although small bathroom with shower stall only. Right on the corner of Duval Street which is THE rowdy street in Key West so expect some noise. Basic continental breakfast included in room rate taken in the smallest, cramped breakfast area ever. Hotel does have a nice compact pool area with a bar though. Was bit irritated that the parking fee of $10 only covered us from check in at 3pm until check out (by 11) the next morning and we had to pay another $10 to stay for the rest of the day, despite the fact we'd booked two rooms. Didn't think the rate charged justifies what is a fairly basic hotel but all accommodation in Key West is really expensive.

Location is great if you want to be where the action is. However, the beds are so horrible that I would never recommend staying here. I can't imagine how old or cheap the mattresses must be. Worse than a sofa bed.
To be fair, staff was very nice, but really, really bad beds.