This was the most expensive hotel that we stayed in while travelling in the Lithuania, Latvia and Estonia and it was just ok. The room was spacious but fairly worn and despite being bright with a large window it still smelt like mould from the bathroom. We didn't check any other hotels but I imagine you could do better. Also, I think there are nicer places to stay than Palanga which is fairly kitsch.
On a positive note, the hotel is very close to the beach and a short walk from the pedestrian area leading to the jetty.