When Portofino Bay opened back in summer 2000, can anyone remember if it was compared to Tokyo Disney's Hotel Miracosta which was nearly built by that time (opened with DisneySea park in spring 2001).
I think the designs are very similar, both mediterranean-themed, and although I am a huge Universal Orlando fan, even I must admit that DisneySea is the grandest of all theme parks, and the MiraCosta, which is actually located inside the park overlooking the Mediterranean Harbor section of the park where the big water shows are played, is probably the best theme park hotel I know of.
Not dissing Portofino Bay, or anything, but I am sure if you judged purely on architecture and atmosphere, MiraCosta would reign supreme over its Universal Orlando rival.
http://www.tdrfan.com/around_the_resort/hotel_miracosta/index.htm
http://www.tdrfan.com/tds/index.htm