Pros
The benefits are incredible. When I worked there each associate was eligible to stay in any property up to three consecutive nights free of charge. Great health insurance, free meals while you're working. In the time I worked there I got a new position with the company, each a promotion, once a year. You can rise up through the ranks as quickly or as slowly as you desire as long as you're willing to move around a bit.
Cons
Limited to no opportunity for business travel. Getting to a respectable salary can take many years of rising through the ranks. After two years with the company, I was making only $12.50 per hour in a supervisor-level position. Had I had a similar position at another hospitality or retail establishment I'd probably be making closer to $15-20. High turnover meant we were constantly training, low starting pay meant we always had trouble filling positions with qualified individuals.