Well, the Holiday Inn Crowne Plaza was a 5 star hotel. It has since changed hands, and I think it''s called the Crowne Princess now. When we went, it was five star all the way. Five pools, situated right on the beach, fabulous service, etc. I believe the current property is still considered a five-star hotel, except that the prices have gone up a bit since 1992! We paid $700 and change each for our airfare from boston, and 7 nights hotel. Seeing that the airfare is around $400, that made the hotel about $300 per person for 7 nights, so it was less than $100 a night total. PLUS they gave us a $100 beverage credit per person.
Prices in cancun are still much cheaper than other destinations, and I am pretty sure you can still get a package deal including airfare and 8days/7nights for about $900.