Pros
Most flexible schedule of any employer. Pick up shifts or get time off is never a problem. Tips can be very good depending on the contract property. Ability to grow in the company.
Cons
$3.00/hr starting out at most properties. Huge ladder gap between manager and GSA's. Managers don't genuinely care about hotel patrons or lower staff. Managers create and change new rules seemingly every week. If you take a week or two off, expect the rules/procedures to be different when you return. Tips are generally quite low. I've been fortunate enough to work at a luxury property where tips can range from $10-30/hr on top of the hourly. The overall average at my property comes to about $14/hr. Most properties have to make-up tips for the employees to clear minimum wage.