Like to party loud and long into the night? Key West (a three-hour drive from Miami) is your place. Want to relax in peace and quiet by tranquil waters? Key West is your place—if you stay at the Hyatt Key West, that is.

The Hyatt Key West finished a $15 million renovation in 2007 and is snuggled steps-away close to party-centric Mallory Square and Duval Street, but happily, it’s wonderfully ensconced in its own little area so all that throbbing nearby nightlife won’t reach your sleeping ears.

Sunset Spectacular

I had a room on the fourth floor corner that was spectacular, both for comfort and views of the ocean, especially at dusk, with the aptly named Sunset island looming in the distance.

The room was bright, airy and very South Beach-feeling, with gleaming white floors and bamboo-texture walls, massive king bed and three sliding doors to gain entry to two roomy balconies.

Shower is huge, with rain-shower head and hand-held sprayer, and the bathroom boasts Portico Spa toiletries. A nice touch: Travel-size tube of toothpaste and a bottle of mouthwash on the vanity, which I almost always forget to bring.

Chow Time

Shor is the resort’s restaurant, and it’s a beauty, glassy and open, with iridescent tiles on the space’s thick columns that catch the waning light of fabled Key West sunsets. And you’ll dine on the freshest fish imaginable—especially if you caught it.

Our party snagged some yellow tail one day and they roasted it up, tasty crisp, for our gluttonous pleasure that night. Outside is the Blue Mohito Bar and Grill by the pool, which has cabana space as well, to keep you out of the scorching Key West sun.

There’s a small man-made beach here, steps away from the cooling ocean. The pool Jacuzzi is open until midnight for late-night soaking—Blue Mohito in hand optional.

Wet and Wild

You must do Hyatt Key West’s water sports, most notably the 27-mile, two-hour, around-the-entire island tour on wave runners, courtesy of the hotel vendor, Hydro-Thunder.

For $150, you mount a powerful wave runner and led by guides, jet off for two solid hours of butt-thumping fun, stopping to check out the sites, like a sea turtle meandering far below you and inlets where U.S. subs once hid during the Cuban missile crisis.

And If You Must Party

Turn any corner near the Hyatt and hit a party, from the legendary Mallory Square and its diverse street performers to Duval Street’s outrageously displayed alternative lifestyle, particularly in a four-block area one gay bartender told me is called “The Fruit Loop.” Check out Aqua Key West, a totally fun cross-dressing cabaret, they do good music there.

For great eats, try Nine One Five at 915 Duval, a terrific bistro with relatively inexpensive, totally fantastic food. Eat on the porch and watch the characters of Duval go by.

Also try the Rum Barrel, steps away from the Hyatt, where I had my first—and best—alligator tenders. The rum was superb and this night so was the hockey game on TV: Chicago beat Philadelphia for the Stanley Cup.

My best-bet bar: Irish Kevin’s, raucous, rowdy, cheap booze and insanely good music. It’s crazy loud, sure, but then just a short walk away is the peace and quiet of your Hyatt room.

That’s what I call the best of both worlds.