Fairly nice hotel but it's a bit over priced for the quality in my opinion. My wife and I stayed here two nights for a friend's wedding. Great view from our room. Good in hotel bars (there are two!). Location is pretty great as far as Madison is concerned. You are right on the Lake and walking distance from a lot of stuff, like restaurants, bars, lakeside parks and the capital building. The gym and swimming areas were good, but the gym itself was very small. There were 5 people in there and it was a bit crowded. Thankfully we coordinated the use of popular equipment.
The building seems a bit run down and in need of some new paint and some woodwork. The parking attendants were pretty rude because I forgot some signed pass from the hotel stating I was a guest. Not sure what that was about but two separate attendants were rude to me. Bleh.