I am not easily impressed, but THEhotel is a fantastic hotel. It is extremely stylish in an Ian Schrager hotel kind of way. Everything from the lobby, the cafe, the halls, the gym and the rooms are very cool and hip. I couldn't believe how much better this hotel was than the regular Mandalay Bay hotel. The best part, every room is a very spacious suite.
Regarding the suites, they are amazing. My suite had a very large separate sitting area / living room. There was a desk, a couch and a separate bathroom for this area of the suite. The bedroom was also very large and the beds were very comfortable. Consistent with the theme of spacious, the bathrooms are enormous. Amazingly, each suite has three flat screen televisions (in the sitting room, the bathroom and the bathroom). Everything about the suite was well done and I was very impressed.
The cafe and bar are also very nice. The cafe was a nice change of pace from the typical casino cafe in that it had a sense of style consistent with the rest of THEhotel. The service was a little slow (perhaps this is all part of the stylish motif), but the food was pretty good.
The spa and fitness center is excellent. You pay an additional fee, but you get your money's worth. The pools are also fantastic at the Mandalay Bay. It gets a little crowded (particularly with the two hotels feeding the one pool area), but it is just that many pretty people to look at.
THEhotel has now become my favorite hotel in Vegas. I still like the Bellagio and the Venetian, but for the money, THEhotel is hard to beat.