The hotel is not big compared to china's standards.
But it is really well done with big and silent rooms. I was at the club floor and the breakfast was really good with a good choice.
The location of the hotel is really perfect. As you exit from the hotel you are on the lake and you can walk for miles with some amazing views.

Stayed in this hotel in early November 2011 with wife and 3 years old son. Booked the hotel via HotelClub.com.au and booked the King Room.
Hotel is fantastic, spacious, clean and look modern. Very happy with our room. The staff are very polite too.
Location also another point for this hotel. It located right in front of the water fountain show with a view of the West Lake.

Location - Having been to Hangzhou numerous times and have stayed at Sofitel, Oakwood serviced apartments, Banyan Tree, Amanfayun - Hyatt's location is the best by the lake i the sense that its a great mixture of being near the lake but also near shops and restaurants. Its a great choice if you wish to stay "in town" and at the lake.

Value - we booked 7 normal rooms at around CNY1,100 inclusive of tax. Some of us got upgraded to rooms with lake view (albeit only a partial view) and executive floors. For the good services, room space and cleanliness offered this should be very competitive against other similar "in town and near the lake" hotels.

Rooms - the rooms themselves are nothing much to write home about. It is the usual China 5-star international hotel layout and standards. I.e. consistent and good but not much character.

Service - is good and one gets the feeling that they are willing to help; but can be slow.

Another highlight of the hotel is its Chinese restaurant - "28 Hubin Road". IMHO this is one of the best dining options for western visitors wanting to sample Hangzhou/eastern China regional cuisine. The price is on the mid-high side reflecting the higher end status of this restaurant, but it has great food and ambiance which probably won't be available elsewhere in Hangzhou (at least not by that locale - so close to the lake!)

This is a very modern and well managed hotel. Conveniently located perfectly by the lake and is surrounded by all the most updated shopping area with everything you need. Great location where you can simply walk by the lake.

I stayed in this hotel for 2 nights for an business event with a group of my colleagues. HuBin 28 restaurant is very impressive where they perfectly consolidate the traditional Chinese and modern western design. Food is great.

WIll absoluetly come back if possible.