There are two types of hotels on Daytona Beach these days - the brand new hi-rises charging big $$$ and the places that have been around for a long time, slowly disintegrating into the sand.
The Mayan falls into the second category, but you could do a lot worse (for more money, too.)
Rooms are not huge, but not tiny either. Carpets have been updated, beds are comfortable, TVs are new. Bugs - I saw some tiny spider-mites running around the bathroom sink in the mornings, and one fast-moving thing one evening, but nothing else. Note that if you open up the balcony door in the summer, you are likely to get more bugs. A/C worked fine (for a warm January).
The cheapest rooms face to the side, where you will be treated to the sounds of the band playing the Ocean Deck next door, playing until the late closing time. You'll pay more for the ocean view rooms, and the higher the room number, the further away from the Ocean Deck you'll be.
If you come down for Speedweeks regularly, then you have probably experienced some pretty bad rooms if you have shopped around for cheap prices, the Mayan will be a step up from most any of them. It's close by to the downtown beach clubs and souvenir shops and the pier (which is closed for renovations). 100 yards from the end if International Speedway Boulevard (ISB in local talk), so about 4 miles from DIS and all the chain restaurants in that area.
The continental breakfast is cold cereal and pre-packaged pastries, but there are plenty of restaurants in the area to get a good meal. The bar is only open on certain nights, but with the Ocean Deck next door, that shouldn't deter you.
The pool is not heated, but was clean, on a raised deck ocean-side.
Desk staff were friendly and efficient. Cleaning staff left some easy-to-spot things uncleaned - stains on walls or doors that might have washed off when still fresh, and dirt on the in-room fridge.
The free Wifi offered was so weak, that the free internet from the Ocean Deck next door had a stronger signal.

The beds were comfortable, the rooms were clean, no bug issues. The staff was nice, and this was a comfortable size room, but there were some issues.

First the good stuff: The biggest benefit between this hotel and the motels I have stayed at in Daytona previously was the provided breakfast - dry cereal, instant oatmeal and grits, toast with jam or butter, packaged muffins and danishes, coffee, tea, milk, and juice. Last time I was at a hotel in Daytona, the breakfast was a box of doughnuts and when it was gone it was gone - this was much better.

The not so good: Not all rooms have balconies, so don't expect one or chose to stay here based on that. In our room without a balcony, the windows wouldn't even open.

If you need a non-smoking room for medical reasons, don't stay here. The room smelled fine when the hotel wasn't full, as it filled up - especially for biker week - I quickly found you will smell smoke if anyone nearby smokes. It doesn't seem like they set aside certain floors or sections for non-smokers.

There is a pool, but my roommate who previously worked as a lifeguard was worried about it since he knows pool chemicals should be monitored hourly and there is never anyone monitoring the hotel pool.

Otherwise the expected okay hotel supplies - disintegratingly thin tissues, weak free internet signal (though it worked better for my roommate's high-tech computer).

The nightclub next door is loud from about 10p-2a. As a heavy sleeper, this did not bother me, but my roommate is a light sleeper and had lots of trouble sleeping. Then the maid service came around (on our specific floor) around 10a and were quite loud, so he didn't have much chance to sleep in. Your experience will depend on your specific sleeping habits, and possibly where your room is located as ours was across from the maid service "room" (which is on each floor) but my roommate did not sleep well during our trip.

In terms of the maid service, I do not like to have my room cleaned unless I have an extended stay, so I can't speak specifically about it except that the room was clean when we got there. Although I did find the tip envelope oddly presumptuous, especially with the "God bless" written on it, but that may just be me.

My husband and I stayed at the Mayan Inn in 2011 and thought it was a great place for not only location, but service and room quality as well. We returned for a night this passed weekend, and it will probably be the last time we visit this hotel.

I paid a little extra to book an Oceanfront King Bed room. All was as we remembered, front desk was friendly and efficient. I found the $5 per day parking fee a little ridiculuous.

Once we got in the room our opinions greatly changed. We stayed in room 704. The condition as far as updates in the room were adequate compared to our last stay, but with a few unpleasant changes.

The bathroom mirror hadn't been cleaned, so a stranger's tooth paste scum stared back at us. There was a razor form the previous tenant ( or perhaps maid?) left on the bathroom vanity as well. The outside of the mini-fridge was covered in a white substance, it almost looked like paint, but can't be certain, and I was afraid to touch it to find out.
Yes, Ocean Deck was loud and so was the AC in the room, but that's not a big deal.

The worst part was the sheets. They were as clean as you can expect a Daytona Beach hotel under 4 starts to be, but the smell, oh my gosh the smell.
The sheets smelled like they were washed in seafood. Not the nice hint of the sea that a lot of beach side hotels have, but like I was sleeping in a plate of Shrimp Scampi.
My husband and I both bathed before going to bed, so it wasn't us! It was the sheets!
We made it a late night on the town, so by the time we got to bed it was late, and we were too tired to go through calling the front desk and having the sheets changed for our 1 nights stay. To say the least it was neausating, and we slept on top of the covers.
The location is great, but the upkeep is greatly lacking.
I also thought $95.00 was a little pricey for a hotel room in off season, even if it was "ocean front" on the 7th floor.

Did not have proper amount of staff to deal with a holiday full house. Waited 2 hours for a room that was booked 5 months ago. When asked why others walking in were getting rooms right away, we were told thats the luck of the draw. When we finally got a room, it was still dirty! The owner of this property should be ashamed of himself!