THEhotel, THEsuite, THEbathroom... ridiculous names and causes of utter confusion when talking to other people about where you're staying, but this hotel is great in my Vegas book.
Stayed here last weekend after always wanting to stay at Mandalay Bay (mainly to have access to their beach). It's slightly higher (10-15%) more expensive than MB prices, but all the rooms are true suites (I believe), meaning separated sleeping and living area. Granted in Vegas, you're not in your room most of the time, but it worked out for us since we had 3 to a room, so 1 person got the couch. NOTE: the couch is not a pull-out sleeper, but it's still long enough for 1 person to crash on. I did that one night, and it wasn't bad. Can't comment on the comfort of the bed actually since I crashed and passed out on it with my feet dangling off the end with my shoes still on the night it was my turn to have it. Friends didn't even bother to put a blanket on me... bastards. Woke up cold in the middle of the night.
Since THEhotel is separated from MB, you walk through a nice quiet hall to get to the elevators. I can't tell you how nice it is to separate yourself from the sensory overload of any casino floor when you're headed to your room. Just walking through the hallway is like a nice transformation of the craziness of Vegas to a relaxing retreat, something much needed in Vegas imho. I stayed here 2 nights and then1 night at Mandalay Bay on the same trip and feel the extra price is worth it.
One of my new favorite places to stay in Vegas.