Stayed there for 2 weeks in late June 2013 while in town for business. Sure the best days of the hotel are long gone.

My room was large and comfortable (capital factor to live there for 2 weeks!), clean and with large windows. Problem is, windows are not sound proof so it was quite hard to sleep after 5:30 a.m. when buses and trucks start driving along the main avenue. Breakfast has a good variety of fruits and bakery, coffee from dispenser machine and some other food. There is a restaurant in the 25th floor with a very nice view of the city and some decent food although a bit pricey; strange thing: you cannot find there the meals and dishes you can order to your room, so if you want a fish and shrimp soup or a burger, you have to eat it in your room.

Rooms lack an iron and iron board, so you will have to get used to walk in wrinkles .. No shoe shine clothing among the bath stuff. You also don't have a water boiler to have something as simple as a tea cup in your room. Being a 4 star hotel, one would expect at least that kind of things, isn't?

Elevators are very slow and if you stay in a middle floor (say 15 - 10) then you will have to wait, and wait, first for the elevator to get to your floor, and then pray that it is not packed!

Neighborhood is the typical city center almost everywhere, getting a bit odd and probably dangerous at night. There is a shopping mall 2 blocks away, with some shops and food court, and the central market another couple of blocks away.

Staff at reception was friendly and kind, even on the days when the hotel was really packed because of the Confederations Cup.

We stayed there for two nights to watch the Confederations Cup game between Japan and Mexico. The hotel is centrally located, overlooking the Central Park however, that also means a lot of traffic noise (the windows lack isolation) plus it was (too) close to the starting point for the huge street demonstrations that rocked BH, like the rest of Brazil during the Copa. Sleep quality consequently was poor.
The hotel is undergoing a complete renovation on a floor-by-floor basis, top down.
We had room 2009 which is one of those already renovated however, it is still pretty simple (primitive chairs; not so comfortable beds) for a hotel that charges more that USD 220 a night.
Breakfast buffet (self service) was average however, we found out that you can order bacon and eggs from the chief waiter (the others just clean the tables). As usual in Brazil, they had a rich collection of fresh fruits. They also offered various types of freshly made yogurts, a really nice touch.
We had dinner at the 25th floor restaurant (nice view of the city) which offered a large buffet at a reasonable price. The free welcome caipirinha was pretty strong (not the neutered version you get in New York City's Little Brazil).
When returning to the hotel Saturday night there was street fighting around the hotle and we got gassed a bit (not the hotel's fault, mind you).
The hotel still has some mile to go in order to be ready for the World Cup next year. At its current state it will certainly feel overpriced.