no eathing out is not cheap, however, prices are much the same as UK
Yes i would definitely say expensive to eat especially around the Old Town.
This is a 5 star hotel so let's not say cheap, I prefer the 'reasonable' option.
I was there with my 10 year old so we didn't eat in the gastronomic restaurant. During
the day you can eat snacks and reasonable food by the pool or at the beach restaurant.
When I say reasonable there are hamburgers, club sandwichs, pasta etc. In the evening there is the buffet in the main restaurant which is not expensive but you need to be hungry ! The beach restaurant is slightly more expensive in the evening although having said that they did serve my son a hamburger which was not on the menu. You can also snack at the cocktail bar in the evening although the tables are low.
My conclusion is that we ate very well and it wasn't expensive bearing in mind the quality of the food.
We ate dinner and breakfast with a tour group at the hotel and did not eat any other meals there. Therefore, I cannot comment about the prices of meals at the hotel. But there are a few restaurants whose prices were reasonable within easy walking distance of the hotel.
Get an answer from Valamar Dubrovnik President Hotel staff and past guests.