I went in to check out the place in October, so I think I have some up to date intel...... just out walking and decided to stop in and look things over.
Its a nice hotel, in a great location. Unlike the Presidente, which is right across the street, the Balmoral never had a reputation as a "mongers" hotel, nor did it see our type of business, nor did it get much play on CRT (vs the Presidente, who changed their policies, terminated their CRT sponsor status, raised prices, instituted a stupid, arbitary "dress code" and just seemed to do everything possible to tell many loyal customers through their actions that they did not want their business - then had the gall to lie about what their true policies were. I stayed there many times and despite my previous statement, really liked the place).
That said, Balmoral was never in the same boat, although it could be argued that they should do a lot more to take advantage of their location. They have not and unless and until they do, based on my conversations a couple of months ago, things will seem to remain as they were*****
One interesting thing was they publish their rates, and the desk person told me they were having a sale - all rates were at a 50% discount to their "rack" rates - so you were looking at $40 - 65 per night after discount. The hotel also has a fair amount of interior rooms, which don't have a window that opens outside <I stayed there for whatever reason some years back>.
They also had a guest fee (I honestly don't remember.....maybe $25?????), and its not the place to stay if you plan on having a lot of company - it might - might - be ok if you planned to use MP's and do your BS there. (I stress might b/c I try not to give my business to those who tolerate me - I'm funny that way

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****One thing I've noticed in Costa Rica as opposed to the USA is some business (like a hotel, or an office building, whatever) go back many years, even generations, and decisions are sometimes made for reasons that would appear contrairy to making business sense - I'm sure the owners of the hotel know about their location, but its been what it is for the 15+ years I've been traveling to Costa Rica.