I stayed two nights in peak season (august) and although it is in the centre of all the action, I found it to be a very noisy location.
The first night I stayed in a sea view room, which looked out over the plaza, full of restaurants, market stalls and buskers. The windows are triple glazed and there are shutters but it was so loud at around 11pm I put my own music on to drown out that noise so i could sleep.
The next day the wonderful staff were understanding and moved me to another sea view room, facing the beach, and it was still noisy but no where near as bad.
The staff were very accommodating and minded my bags in a secure area after I checked out so I could spend the day sight seeing.
Location is close to restaurants and a supermarket (good option is to shop and eat dinner on the beach if you want to escape the craziness of the restaurant strip.
So basically - rooms werr basic but tidy, but also noisy due to location. If you want to be near the party this is a great option, but it was not what i was looking for (ie a restful escape!). My fault for not doing my research, and staff were as helpful as they could be.