The Hilton was apparently the gathering ground for Eastern and Western spies during the Cold War, when Cyprus’ strategic position was invaluable; who knows what political manoeuvring went on in the bar or around the pool back then. Today, the large, light-filled rooms are rather drab for the price and don't match the hints of colonial-esque glamour in the grand lobby.
With no other five-star accommodation in town to compete with, however, and with full facilities, it's able to get away with it. Check the website for special cut-price deals.