I did a site visit in July 2012. Here are my notes:

Very rustic and natural. Quintessential boutique hotel, very intimate (25 rooms), right on the beach, very open/airy, and the beach and reception locations are actually BOTH very nice (seemed a unique combo, frustratingly, during our trip). There is a buy-out option since it's so small, but sounds like you may not have enough guests for that. Aprx. rate is $165/nt. for standard rooms (called Garden Suites). EP only (European Plan, i.e., not all-inclusive). About 15 min. from downtown Playa del Carmen. 

Pros: No charge to use/bring in outside vendors. Good "Plan B" option (i.e., rain) under the main palapa, which houses the open bar and dining area. Nice room upgrade options for those who want it, like private plunge pools

Cons: Outdoor reception location only...but it is a nice one, so I don't mind :)