My Wife and I were in New York for a night, and decided on the Pearl due to Trip Advisor reviews, location, and price. We were not disappointed!
The location is a 3min walk from Times Square, and is on the same street as the theatres for Chicago and Book of Mormon.
Spacious, and Modern. All of the fixtures were nice, new, and clean! We had a Terrace with out room, and it was a nice touch. The lobby and sitting area above were clean, and the breakfast included was decent enough.
Seemed overstaffed at the front counter at times, but the staff was very friendly and accommodating. On our online reservation we had made note that it was our first time to NYC, and a room with any sort of view would be appreciated. When we arrived, they had it noted, and upgraded us to the room with a Balcony... very nice addition!
Overall, I would recommend this hotel. If you book online early, there can be a good price to be had! We will be returning.