We both enjoyed the hotel very much - he loved the conference facilities, and we both loved the gorgeous pool and proximity to the lovely private beach. The food is very good and reasonably priced by European standards. Breakfast, which is included in the room price, includes the best coffee I've ever had - served with hot milk for the faint of heart.
The rooms are small for a four-star hotel, but the bed is comfortable and the minibar is cheap. Bring a hair dryer - the one in the bathroom is nearly useless. Also, there's no iron available, so if you're there for business, plan accordingly. Internet access is easy and free, but it's bumpy and slow now and then.
Other reviewers have mentioned problems with the showers. Ours was fine for our stay, if a bit oddly arranged. I understand the Budva area has a water problem in the summer, though, and we were there just before the summer rush, so perhaps we just got lucky. It's worth checking into if you're going to be there during the height of the summer season. Also, keep in mind that there are a LOT of mosquitoes in Budva - certainly not the fault of the hotel - so plan to sleep with the window closed and the A/C on.
We didn't use the spa, so we can't comment on the quality of the services there. However, we had a look at the 'menu' and it would seem that if you were there for a hot stone massage or some other amazing-sounding treatments you'd be well taken care of. I just couldn't bring myself to be indoors during such lovely weather.
We both recommend the Mediteran - the staff is friendly and wonderful, and the hotel is comfortable and attractive. You'll enjoy your stay there!
This review is the subjective opinion of a TripAdvisor member and not of TripAdvisor LLC