We've stayed here a couple of times, and it's a solid choice though nothing exceptional. Hotels in Carmel are expensive because it's a major tourist destination; don't think that paying $250/night or $300 for a view room will get you luxury accommodations.
Location is top notch. The views are fantastic as the hotel is on the northeast and highest part of town. There's easy access (3-minute walk) into town. Rooms are comfortable and spacious and have both indoor in outdoor seating. It's amazing to watch the sun set from your balcony if the weather cooperates. If you're in town on Thursday, the farmer's market is 2 minutes away.
A few downsides. Breakfast is provided, though it's rather simple -- bagels, pastries, a couple cereal options, juice, coffee and tea. They offered the same scrambled eggs and sausages all three days we were there, a nice upgrade but would be nice to have some variety or a self serve waffle station. I've seen better breakfast buffets in very modest 2-3 star hotels. They have coffee and tea available in the lobby 24 hours/day which is a nice touch but not cold water or water bottles to take with you around town. Years after the pandemic, they don't provide daily housekeeping unless you request it. These are all minor, and we'd stay there again, but they keep the property from being 5*.