having stayed in Taba at the Hyatt in July, I can say that if you don't buy your drinks and candy from the Hotel, then you are going to be very thirsty and gagging for sugar!!!
yes, the hotels are lovely ( the Hyatt is a very nice hotel), the diving is easy an there is a house reef with plenty of snorkelling opportunities. No wrecks, and the fish life is OK. Plenty of rays and Turtles and there was talk of a Whale Shark in the area when we there - though we didn't see it.
The area outside of the hotel complex is, well, one big abandoned building site. It was put on hold when all the trouble started again, but now that that is all over, the buildings are starting to come back to life. the roads north of taba are,well, sporty to say the least and there is NO TOWN. So, you eat and drink at the hotel or don't eat or drink at all!
the Dive centre is quite well organised with a couple of hard boats and OK rental gear - jut be aware that the car (rusty old jeep with trailer) is a law-suit waiting to happen and the boats don't go very far.
But all in all, a nice quiet luxery dive spot.
Oh, and remember, drink plenty of ROOM TEMPERATURE WATER - NOT COLD. Cold water causes stomach cramps.
Hope this helps.