I arrived late at night for a stay at The Sands right down the street, but I didn't want to spend the money for the all-inclusive resort for the first night, just to immediately go to bed and then leave to go sailing the next morning. So, I booked my first night at Melrose to save a couple hundred dollars.
Melrose's rooms are more like small apartments than hotel rooms. It's not luxurious, but it's clean and I had zero issues, and it's equipped so that you could easily stay there for a while (kitchen, etc). I was very pleased with it--it's a ton of value for the money if you just need a good simple place to stay. I've stayed at everywhere from air-conditioned tents in the Sahara or little rural inns in the Himalayas, to the Westin St. Francis and the Waldorf-Astoria, and I don't think you'll do better than this place on an island near the beach for the price they charge.