Travelling and staying with three people can be a bit difficult. It is particularly a problem if everyone has different reasoning for travelling (work or play) and so different schedules. After piggy-backing on a friends work trip to Vegas the bf and I were a bit concerned by the room situation at the Mandalay Bay. Seeing that THEhotel had suites (with a separate living area) for barely $50 more a night we decided to upgrade for everyone's well-being.
It was perfect.
Not only was there ample room for everyone and a separate living room for those who wanted to wake early or stay up late but there were also two bathrooms and just an overall abundance of space. The service was top-notch and any issues we had were immediately dealt with and rectified.
There were only a couple of legitimate downsides to being at THEhotel at Mandalay Bay. The first was that it is definitely not on "the strip". It looks like it is and you can walk to everything (sort of) and technically it is on the same road but if you are looking to walk out of your hotel and into the action, that is a problem. It also means that you need to travel to go to the other casinos and that takes a significant amount of time and money (neither too significant - time: ~15 min, money: ~$10).
The other potential downside is the distance between THEhotel and the Mandalay Bay pools (that you obviously have access to). It is a bit of a hike. The hotel rooms at Mandalay Bay go down to the pool level but if you are staying at THEhotel then you have to take the elevators to the lobby floor, walk through the casino, down a level and then outside and down the path to the pools. This is a huge issue if you are with someone with limited mobility (which I wasn't but thought of).
The benefits of THEhotel far outweigh the downfalls so I would recommend this hotel to almost anyone!
Added bonus: The bathtub is like a personal swimming pool it is so big!