The Palazzo is the younger sister of The Venetian and it is the best 5 star hotel I've stayed at. I stayed here for 2 weekday nights in their King Suite (720 sq ft) which is their standard room and I was highly impressed by the overall hotel and room decor. Very spacious and extravagant. The suite was so big, I did not get to utilize the sunken living room.
Their pool was decent. I loved the area where they placed lounge chairs in the pool, where you can relax & get a nice tan without being baked by the sun. I went during the summer months and one of the pool attendants gave everyone an ice-cold towel to cool down which is spectacular!
As with all of the resorts on the strip, they charge a daily resort fee of $25 to use their internet access and fitness center.
Great price, $129/night plus 2 tickets to Phantom. No complaints other than the shower head. Let's just say it was not gentle at all.