Not great, and certainly not for the price. Though chicly furnished, the rooms are small and the air conditioning is noisy to the point where you just can't use it. We complained several times on our visit because we thought it was a generator that was broken, only to be told that 80% of the rooms have the same noise from the air con. The service is begrudging and aloof and often non existent. Most of the people staying here seem to be doing so because there's a consensus that there's a scene. They're welcome to it.

to be frank, its the pool (oasis) and the staff that work around it that make this place. check in, and the desk staff in general, was so-so and our ocean view room, was an insult at the $500 + a night that it cost. but hanging out at the oasis was great and the bar, wait and pool staff were very personable and attentive.
the rooms are on the small size (think new york) and not luxurious at all, but if the sun is shining you'll spend very little time in your room. outside is the place to be and even when the hotel is full (as it was during our stay) there's plenty of space around the pool and lots of sunbeds, couches and armchairs. the d.j. plays good tunes (but not too loud) and the gardens are lush.
food is good for lunch but i don't recommend sticking around for dinner. the menu looks good but we found it rather bland and tasteless.
the delano is probably a better option all round, but this place is less pretentious and a great place to hang, relax and soak up some rays.

We have been to many four star hotels and don't think this one should qualify. Room walls are paper thin and you can hear every word that people say. Service is less than average. Pool area is beautiful.

My wife & I stayed at the Raleigh for one night & were very satisfied. Great location near our favorite spots; Delano, Shore Club (nobu), Lincoln Road. We wanted a spot w/ a nice pool and we're very happy. The staff was extremely nice - not snooty like some hotel staff in Miami Beach can be. Great shower too - I referred to it as the "Miami Hurricane" for a few days afterward. We would definately return.