I was there in February. $40/night? Wow. I got $55/night for the suite. Its nice, the balcony wraps around San Martin and Porta. But the reservation I made was via email... I arrived pretty late at night, around 2am on a Saturday night, didn't have any check-in problems. It was noisy, but hell, I thought all of Lima was noisy! There's a quiet place? Where- I'll pay top dollar!
Staff was friendly, never paid a chica fee. Their restaurant was decent, though I didn't eat many meals there. $40/ night would definitely be a good deal, though! Their high-speed internet was horrible, sometimes slower than what I remember dial-up to be here in the states.
The rooms are all white, as stated before, but with this light blue accent-thing going on. The miami feel is about right. Don't expect to sleep in, the laundry is also located on the top floor with the suite.

But it is the sole room on the top floor. Wasn't bad, overall. Would I go back? Yes, for $40/night I would.
Hope that helps.
the Cap'n