Pros
Depends on location. Corporate office is very nice, but in the middle of nowhere. Hotel locations vary and really depends on management staff and RVP, as well as past performance at hotel. If you are well liked by RVP and up (at any level), you will be on the fast track for promotions (this is true for ops and sales, at any age and skill level). Hotel discounts are very nice, and benefits are decent (vacation time low and based on years of service, but accrues). Bonuses are for many positions (even under department head) and decent amount of money (but often unattainable). Some of the people I worked with were pretty great, and made work bearable.
Cons
As others mentioned, there is no work/life balance. It is common for managers to work 60 hours standard (although the schedule is "50 hours"), and some properties are a lot more. Everyone "talks" about work life balance and telling people to go home, but turns a blind eye and pretends they don't notice you're working so much because you're needed. All targets are set by corporate, which directly affect your bonus, which is a decent chunk of change and many do not get. No say at property level. RVPs constantly terrorizing properties, evoking fear to "do better" when many are short staffed and overworked. Trickles down to GM/AGM/Managers and no one is happy. LOW starting wage, and they ALWAYS try and lowball. Preys on employees right out of college that don't know what they've signed up for (65 hours at 42k a year, etc).