I've stayed my fifth time at the Riu Florida Beach in March this year. The hotel has a great location and is so reasonably priced it's incredible. The Palms right next door charges twice as much for their rooms and none of them have balconies.
Now, here is a little caveat for most Americans: The staff is exclusively Cuban or Spanish. That means the service will have the typical non-American attitude. It won't be snappy all the time. To me, this is one of the appealing aspects of this hotel. It does not feel sterile like some others. The staff is incredibly friendly and personable and will go the extra mile.
Other highlights include the pool bar, breakfast buffet (do not stay here without having the opulent breakfast buffet) and the beach right outside the hotel. If you're looking for a place to kick back and relax and don't mind if things take a little longer, this is the place for you. Yes, you drink may take 10 minutes at the pool bar while the staff is singing along with a song on the radio, but who cares? You're on vacation!