Just had a trip where I spent 10 days there over the holidays. Got to take my family along since it was over Christmas. We had a great time.
We stayed at the Sheraton Towers which is a pretty nice hotel. The Sheraton is directly accross the street from a nice shopping area/mall with a few good places to have a nice dinner, buy T-shirts, etc.
I recommend Chichen Itza to see the pyramids. Took my kids and they loved getting pictures and climbing all over those things. About a two hour drive west.
Tullum also has some nice ruins with much cheaper food prices/gifts than Cancun. About 1.5 hours south.
The place is really geared toward drinking for sure. We got out and had a really good time at Jimmy Buffets. Pat Obrien's is pretty good also, those guys carry about 15 drinks on their head. Very amusing. And if you really want to drink alot, be offered shots about every 2 minutes and want to have a ringing in your ears for two days due to the volume of the music I suggested Senor Frogs.
Oh, lastly be prepared for lots and lots of baloon hats. I don't know why but every place is REALLY into baloons.