It is a 1920's hotel built by the famous Henry Flagler, and it has a crescent shaped beach that no other hotel has due to the time when the land was purchased.
You cannot duplicate this amount of land now for a hotel. It has a very nice courtyard restaurant and Tiki-like bar all around the pool, and the rooms are pretty nice. They are not the most luxurious rooms, but they were definitely on the luxurious side. I would definitely recommend this hotel if you wanted a fantastic beach location, class and if you have kids or just want romance. If you want only to party, stay on Duval or Front Street, but this is the best my opinion for the beach and the hotel is very nice.
I have seen the newer hotels, and they may be more modern, but I like the "Grand Opulence" of this place, the antiquity and the grace.