Ramon's is one of the oldest resorts on the island, has expanded a lot over the years and remains very popular, especially for first-timers to Belize. It still has some of the thatch and sand ambiance that people come to the cayes for (but which isn't all that common anymore in an age of reinforced concrete.) It has the best beach in or near town, a small but very nice pool and a popular bar. The location is handy, right across the street from the airstrip (but no noise problem) and a short stroll from town. Ramon's is known as a party place, and while that really isn't true if you compare it to real party hotel destinations in the Yucatan or the main Caribbean, it's true on Ambergris. The downside of Ramon's is that it's a little pricey for what you get, and some of the units in the back aren't that great. There's a restaurant, okay for breakfast, but definitely not one of the top eateries on the island. Overall, a well-run resort with high occupancy.
Victoria House is also one of the older places on the island. It has more of an barefoot upscale feel than Ramon's. It's about 2 miles south of town, so you need a taxi, golf cart or bike to get back and forth to town regularly. The grounds are in great shape now, and the pool, a couple of years old, is one of the nicest on the island. There's a nice beach, and the bar, in a thatch palapa or cabana, is great. The accommodations are always a bit of a surprise, because they vary a lot. There are older thatch casitas (said to be a little hot despite A/C though I have stayed in them myself, sorta motel-like rooms, larger rooms in the main building, and deluxe suites in the what used to be called the owners' villas (plus there are now suites in a private home south of the resort.) Good restaurant. Well-run. Expensive, and the villas are very expensive.
There are places with more space and much lower prices on Ambergris, but both these places have solid guest satisfaction levels.
--Lan Sluder <San Pedro Cool, Fodor's, Adapter Kit Belize, etc.>