Overall I do not recommend this hotel.
I lived in bungalow, just near the reception. We met NY 2012 in clone prao resort.
Pluses:
Nice location, a lot of space, big area
Excellent breakfast, you can find anything there
Good beach
Good and not expensive restaraunt

Minuses:
Old bungalows, required renovation, noisy ac
NOISY. I lived not far from the restaurant, and till 10.30-11.00 they played music, live. On the main road just near the hotel there is a bar with live music. So you listen dance till midnight. And the noisiest were the most expensive bungalows!
New Year celebration is a separate story. They developed scene like for Woodstock, and starting from 6 pm till midnight they played the worst Russian music I ever heard. After midnight till 1 am hotel staff made their own dance. 
This hotel doesn't care about people comfort at all. Most of the people were with children, so they were not happy to listen music all nights
Russians. The hotel become Russian oriented more and more. About 70% people were from former USSR. Even new year party led primarily in Russian.
Lack of sun beds on the beach. If you want to have a place - reserve it with the towel befor 9 am. After that time you will find all the places occupied by towels, but without people mostly. 

Good place but needs new management, how understand what comfort is.

I have stayed there 2 nights and I really like this property. If didn`t like something, then I even don`t remember it, cause territory and all surrounding was really nice!

+ beautiful territory with inside lake - seems like a park.
+ wide beach coast (everybody could take a sun near beach and don`t bother other person)
+ the best - didn`t need even to use umbrellas to protect against sun, but palms was the best and natural shadow)
+ wide rooms and standard room property was at refurbishment - so standard rooms will be absolutely new.
+ dinner at hotel restaurant is very good and prices is cheap
+ exactly of hotel entrance is shop street and as well bike rent
+ breakfast have more choice than other hotels and breakfast building located at lake coast

- minus don`t have, just enjoy!:)

Stayed here on April 8th to the 15th and had a fantastic holiday. Not a 5 star but the beach and resturant more than made up for it. The resturant staff and food were 5 star with full menu and they have a great barbeque every night also. The beach is difinetly 5 star..I was feeding dinner to 8 people and 2 bottles of good Austraian wine for 100 Canadian or 3000 bhat. The rooms were clean, big and had nice balconies.The only thing wrong with the room is that there is not enough plug-ins. Always go to the caribean for holidays but decided to visit Thailand this time. Very different style of resort but enjoyed it just the same. Very good breakfast which was included but you have to be there early. My son and his girlfriend and her family are Thai's and they go here all the time. We rented scooters just outside the main gate and I travelled all over the island looking at all the other beaches. There were some nicer resorts but they were all cramed togeather just like Cancun in Mexico. This beach is very private and only has this resort on it. Dollar for dollar, beach for beach this place is fantastic. I have stayed at a lot of resorts worldwide and while this isn't a 5 star it is the best on Koh Chang in my opinion.

We stayed at the Klong Prao Resort for 5 nights. The resort is beautiful, our room was great and the beach is one of the best we've seen on the island.
The service was the only thing that could be better, as they almost charge you extra for every question you ask, but apart from that we had a great time there.