Well, once again I seem to be differing in my opinion of this place, since everyone else seems to have had a good experience there, but I think you should know both sides before committing to this place!
I got it through Priceline last year (April) for $50/night for two nights. We got there at 11:00 p.m. and all I can say is that it was creepy, at best. People sitting out on the balconies, drinking, calling to each other, staring at us unpacking the car. We went into the Kidsuite they had offered us and calling it dirty would be a compliment. The curtain rod was broken and the curtains were hanging off, and through the open gap we were creeped out by a bunch of kids/teens staring in at us. I'm sorry, but at 11:00 p.m., holding two tired babies, we were fed up and disgusted. They gave us another room, which we had to walk over old room service food trays (outside our door)to get to, and I could have just burst into tears when we walked into it. Far worse than the Kidsuite...crumbling walls, filthy bathroom, soaking, stinky carpet from the A.C. leaking. We started calling other hotels and were dismayed to learn that there was prom or something going on and there weren't any vacancies in Cocoa Beach anywhere! We actually had to leave the hotel, after I flicked a small bug off my shoulder (coincidental I'm sure) we were that disgusted. We went driving around at midnight to find somewhere else to stay and ended up returning to our nasty room as opposed to sleeping in the car, but we left first thing in the morning. We returned to Disney and paid $325/night for a room rather than stay at that Holiday Inn.
I could go on and on (yes, there's more!)....obviously our experience was a bad one, but others have said that they enjoyed their stay and it was fine, so I guess you'll have to decide for yourself! You should do a search on these boards to read some background, I know of another person who posted here about her very similar experience to ours.
In all fairness, when we went in April the hotel was undergoing renovations and they looked major, so maybe it's a bit nicer now.
Good luck either way, and e-mail me if you'd like more info!
Nicole