Great views and location....positive attributes pretty much end there. There seem to be two "classes" of guests...the residents and the hotel guests. The pool area is about 1/3 the size required for the capacity of the hotel, so if you want a pool chair you need to get down there around 7:00am on the weekends according to the pool boys..or you can slip them money to reserve you a seat. However...residents can reserve prime pool and beach chairs while the hotel guests are first come, first serve.
Check where your room is located, if you are a light sleeper this is not the place for you. We were located over 6 floors above the hotel entrance, but when the nightclub finished we were up, listening to the ruckus for about an hour. Also, there is a wind-chime installation in the room which looks cool, but when the a/c blows it rattles all night.
In many ways a dismal stay. So many great true hotels in South Beach, this isn't one of them.