I just came back from Nainital on 28th dec' 2008. I stayed in Hotel Ambassador for 2 days i.e. 26th Dec and 27th Dec and the experience was really good. We (my Parents and myself) reached Nainital on 26th Dec and searched few hotels however few of the hotels where we found vacant rooms were really expensive and other hotels were already booked. Luckily we get a room in Hotel Ambassador for 2 days (other vacant hotels have room available for only 1 day). The rates of Hotel Ambassador is reasonable (Rs 1400 for a Semi Deluxe Family room which has one Double bed and a sofa-cum-bed) with good quality service. We tried the snacks as well and that too was good. Overall its a good hotel which provide all the basic facilities like TV, Room Service. The room that we got was lake facing and the view from the room was good.