I stayed in this hotel with my two older children in May/06. Overall, this hotel is a good value when you consider the cost of other downtown hotels in Macau. My rate was $820 HK/night (average rate over 6 nights -- if you're just going for a weekend, it will be more per night). There's a casino on three floors, but you can avoid it if you're not interested. The lobby is attractive, with cream-colored marble decor, european furniture, and a small 'bar' that sells wine, beer, and local pastries.

The deluxe rooms are small but adequate in size. Yes, there was a bit of grey color on the bathroom-tile grouting, but otherwise the rooms were very clean. Ours was a non-smoking room and it was fresh-smelling. In the room was a kettle with teabags, a small fridge, and individually-controlled A/C. The rooms were quiet.

Buffet breakfast in the Frascati Cafe on the 2nd floor was good---with a huge variety of options including great coffee, juices, fresh-made waffles or omelettes, fresh fruit, oatmeal, congee, dim sum (not great), stir-fried noodles, muffins/toast/buns, jams, eggs, sausages, bacon, hot dogs, sliced meats, cheeses & crackers, vegetables (both raw and cooked). It's not gourmet, but basic quality with a lot of variety. I wouldn't want to pay the $88HK per breakfast, however (ours was included in the room rate). There's a non-smoking section in the cafe. The service was excellent for the breakfast buffet. We didn't eat lunch or dinner at the hotel as we were always out and about.

On the second floor is the business center, where you can use a computer and access the Internet ($60 HK/hour or $40HK/half-hour). There's also FAX, plus other services available at a fee.
At the back of the hotel is Oskar Bistro with indoor and outdoor tables. They sell delicious Portuguese egg tarts for $7HK each.
In the morning, there were prostitutes walking back and forth in the street behind the hotel, and I watched them each morning from my table in the Frascati Cafe. But don't get the impression this is the 'wrong part of town'. If you're concerned about gambling or vice, most of downtown Macau is the 'wrong part of town'. One advantage to the Holiday Inn in this respect -- it's across the street from a police station!

The pool and gym were not working when we were there. We were given passes to use the gym and pool at a hotel down the street, but not everyone got these passes (depends on how you booked and whether you 'had notice' that the pool was closed). I'd check on this aspect (with the hotel directly) BEFORE booking if this is important to you.

I liked the location of the hotel. It was basically half way between the Largo Senado (old Macau) and the newly-developed wharf area (new Macau). It was a ten-minute walk in opposite directions to get to either section of the city. A reasonably-fit person can walk almost anywhere on the Macau mainland from this central location. There's a range of different types of restaurants nearby. I also appreciated the grocery store located a half-block away. Another block down the street, and you'll find a 7-Eleven if you need a 'western-snack fix'.

I have two negative comments: The elevators were very slow. And second, I encountered a glitch when I checked out and was about to be charged at a much-higher rate than what I booked the room at (I booked directly with Holiday Inn, online). When I brought the error to the clerk's attention, she promptly corrected it. I don't know if this is a pattern, but just be sure to check your tab before signing off on it (and bring a copy of your on-line reservation confirmation which should say what rate you're supposed to be getting).

Overall, we were happy with this hotel. I would recommend the Holiday Inn Macau to anyone who:
a) doesn't want to spend a lot of money on their room;
b) wants a basic, clean room;
c) wants a hotel that's up to western standards in cleanliness, service and ammenities; and
d) is well-located.

PS The Holiday Inn Macau has a free shuttle to and from the Macau ferry. It makes the circuit every half an hour.