A couple friends of ours stayed at the Park Royal a couple of years ago. The property has been renovated nicely, the room was nice, pretty much a typical hotel room, but no fridge in room or any ice machines on the floors to keep beverages cool if you did have a cooler of your own.
And if you wanted a cold water to take to the room or the pool, they would only give you a styrofoam cup of ice water rather than a bottle of water, making it very hard to stay hydrated in the hot sun without spending all your time running back and forth to the bar or constantly flagging down a wait person.
Our friends said the food was good, but not as good as when we all stayed at the Occidental Grand and service was quite slow. They had diner at the "fancy" restaurant and it took well over an hour to get thier meals.
Hotel Coz. is closer to town, easy walking distance, although walking from Park Royal would not be beyond us, we used to walk to and from town all the time when we stayed at La Ceiba.
I've never seen the rooms at H.C., but the balconies look adequate for scuba gear, the pool and lobby areas are very nice, and reports I've heard is the food is good.