We decided to visit OC over the July 4th weekend and finding a place to stay was very tough. Stumbled on the Spinnaker based on previous reviews and had a very memorable stay.
Location -- cant beat this. Off 18th and right behind the OC boardwalk. We walked to many of the local joints and had free parking onsite. Never had to drive since parking is not easy to find in OC downtown. The Malia's Cafe within the premises is a great breakfast option -- decent price and very nice food.
Staff -- very friendly front desk and always helpful with any questions you may have about the local attractions/places to visit/eat.
Rooms -- very small but well kept; refurbished with new fittings. Rooms are small but that is true of most hotels we've stayed in OC. There is only 1 elevator on each side of the hotel and we were on the 5th floor and had to take the stairs on foot a few times and the elevator was broken/occupied on couple of occasions. The appliances are basic -- but the fridge, cooking range, microwave came useful as we had kids needing home made food. There is a grocery store not too far away and a CVS close by.
The only negative we felt was the room prices were a little high -- yes this is OC and peak season. The place demands a premium simply because of the prime location.Of all the options in and around boardwalk, it is still reasonable priced -- tells you how bad thing have got at OC.