We came back to this hotel after 3 years and were not disappointed.
Its location is perfect. It is really close to the nightlife center of the city but far enough not to be disturbed by the noise and the crowd.
Staff was very friendly.
Pool area is nice, cave pool is unique.
Steam room did not operate.
They offer massage, price is not high.
Breakfast has enough variety.
Bad think that they do not have bathrobes in the rooms but you have to borrow them at reception for 8 EUR per piece which is not nice of a wellness hotel. On the other hand when I expressed my dislike of this they gave me robes free of charge without hesitating.
View from the rooms over the lake Balaton is unbeatable.

Hotel relatively well rebuilt from socialist prefab building. Apartment spatious, corridors not really inviting.
Restaurant fine for included breakfast.
Nice inside pool and tiny "cavern" pool.
Outside tiny pool for kids that has cold water in the morning as it is shaded by the building and dirtyu water in the afternoon.
Directly bordering with the "beach" of Balaton. Relatively close to the "lively" district but in quiet area. Parking a bit troublesome, matter of luck...
Nice view of the lake.

We arrived at Hotel Panorama which is quite a distance from the train station. A local taxi cost nearly 5000 forints (15 pounds) to get there. The hotel itself was'nt bad at all. It looked really nice and clean. The receptionist was really friendly and checked us into the room. We saw the room and me and we were in total shock. Goodness, the room was a twin room when we had booked a double and size of the room was so small that we could bearly move in it! We were so disappointed! We went back down to the recption and told her that there had been a mix-up. She just said that that was the only room available...if we wanted to take it then fine and if not we could go elsewhere. She was'nt apologetic or anything. We ended up getting our money back and tried for other hotels.

Do not be concerned that this is a noisy hotel with kids running underfoot everywhere. It was calm, quiet, and would be well suited to travelers without children also. This hotel fulfulled our needs perfectly! Our group consisted of grandma, grandpa, mom, dad, two year old, 5 month old. Due to advice we got from reading these reviews we got one double room and one apartment. The hotel's website does not explain what the apartment consists of, so we reserved it just based on this advice - so glad we did. The apartment is a two-room accommodation; a regular double room next to a twin bedded room which is connected by a private hallway. We had requested a cot (crib) and it was set up already in the apartment's hallway ready for us. Be sure to reserve parking in advance. We didn't and got their last parking space. The buffet breakfast was included in the price and was an abundant offering consisting of traditional Hungarian breakfast foods, (coldcuts, cheese, lecso, kifli) and American (scrambled eggs, yogurt, cereal, juice) plus sweet rools, breads and delicious jams. The location is right at the lake.. The hotel has it's own outdoor lounge area with lounge chairs and plenty of grass, then step through a gate and you're at the lake! There was a terrific outdoor restaurant right next door. We were treated royally there. The owner speaks English and was very helpful. He made up a special plate for me when I couldn't decide between a couple different items on the menu. They have casual lunch type things such as langos and pizza - all the way to full dinners with starters, salads and desserts. In case of bad weather they have canvas walls with windows that they roll out. We experienced a sudden storm there one night - it was perfect, we were warm and cozy sipping our beer and wine while watching the waves and white caps on the lake - dramatic! Most of the hotel's guests seemed to be well-to-do Hungarians, which was nicer than being with a lot of other American tourists. We had a great view from our room and balcony. One of the very best things was the indoor pool. One day they weather was bad, but they day was not ruined - we just swam in the pool and used the jacuzzi. Both were very nice and NOT overrun with children. Again, travelers without children need not be afraid. There was a hair dryer in the room, but no toiletries. There is a refrigerator/mini-bar in the room, but no safe. Downsides? A few. Pretty costly, the rooms are small, the check-in time is late, (3), and check-out early (10am!) - but it was worth it!