I stayed at this beach for a week last month to celebrate a relative's Birthday, after previously staying at the Riu Reggae in November. In my opinion, the only notable difference between the two places, considering the price difference, is that the Palace offers room service. If you are seeking a more relaxed atmosphere, you will definitely find it here.
However, it is important to note that this hotel does not live up to its claim of being a 5-star resort. I have stayed at many 5-star resorts, and this one does not compare. A 5-star resort should offer luxury, but the Palace falls short in this aspect. The rooms are in need of several upgrades to match a 5-star rating. The room I stayed in was quite average, with uncomfortable beds. Additionally, our group had a room next to ours that had a privacy curtain for the bathroom area, while ours did not. Furthermore, the sofa in our room was dirty and sank low to the floor.
When comparing my stay at the Palace to my stay at the Riu Reggae, the latter was much better. The grounds at the Reggae were clean and well-maintained. The staff at all of the Riu Properties, including the Reggae, are clearly well-trained and always stand out as the highlight of any stay.