My family and I have stayed here at least four or five times. I remember being drawn to it as a kid because there is a giant swimming pool and a glass elevator that was fun to ride.
I haven't ever stayed in a suite at this hotel, so I do not know what the suites are like; however, the basic rooms are typical to what one would find in any basic hotel room. Standard amenities, such as a TV and a coffee machine, are present in the rooms. Every time that I have been here, everything has been perfectly tidy, and the service was good. With the basic rooms, you do get a balcony with either a partial or a full view of the beach (it costs a little bit extra for a full view).
It's a good family place because the pool and the beach provide plenty of entertainment for the kids (there is a separate kiddie pool with a little slide designed for younger children). Plus, if your kids are anything like I was at a young age, they will want to ride the glass elevator over and over again. For adults (both in families and singles), there is a bar with little barstools in the pool where one can sit and have a drink. I haven't had the alcoholic drinks (I am underage still), but the virgin drinks were pretty good. There's also a nice hot tub.
As far as location goes, the Sheraton is in a good location in the sense that it is close to the bridge that connects the island to the main land. You don't have to drive 3 to 4 miles or so down the main road every time you want to leave the island. It's also within walking distance of many shops. However, if you are looking to stay along the beach in an area that is more secluded from other people, I do not recommend the Sheraton because it is located in one of the most crowded sectors of the beach. The beach tends to get less crowded the further north you go on the island, but this is a trade-off because one must drive farther to get on and off of the island.
I do not have any complaints about this hotel; it is slightly pricier than some other hotels with rooms of equal quality, but some of the facilities (such as the large pool) are much nicer than these other hotels. I guess it just depends on what you are looking for. If you are looking for a place to stay that has the atmosphere of a more upscale resort, but don't want to spend that much money, I highly recommend the Sheraton. However, if you are just looking for the most budget-friendly place on the island regardless of facilities, then I would suggest finding a hotel on the bay side of the island since those tend to run slightly cheaper.