While older than its nearby flagship sister, the Pestana São Tomé, the Miramar is the better deal. Instead of entering resort-land, you get the feeling of a real hotel rooted in the city, where locals, expats and tourists all mix. A secret bonus: renovated rooms with seaviews can be had for no additional cost (just ask).
The pretty restaurant overlooking the massive pool area, and the beach across the street, close the deal. High end suites aren't worth the money, however.