We stayed here for a week recently, and found the staff to be very friendly and helpful. Our room was clean and had everything we needed - it was also serviced daily.
The breakfast was good, but there was little variety, so you had the same offerings every day. Now, I do understand that with the current Covid situation, the hotel was limited in what they could provide, they still did an outstanding job and their system for everyone to have their own 'tongs' works very well (except for scrambled eggs).
Despite the pool being emptied, we were able to sunbathe on the rooftop for the first two days. After that the whole area was closed off for use which was rather disappointing.
The hotel is next to a very busy motorway, but we were not disturbed by any traffic noise. It is close to many shops and restaurants and is within walking distance to Old Town. There is a lovely park between the hotel and Old Town, which has a cafe serving drinks, and a few food carts which serve rather delicious food. There is also a big playground for children and even a dog park.
We had misjudged the location, and had to get a taxi daily to the beach area Playa de Las Canteras. The fare is €6 each way, so it's not too bad, but if you want a beach holiday, you may want to consider booking a hotel closer to the beach. There are taxis available directly outside the hotel.
I would definitely recommend AC Hotel Iberia Las Palmas, and their standards during this pandemic is exceptionally high.