I've never stayed at Rayon Hotel but the pictures and reports I've seen have all been positive and glowing. There are so many restarants and most see/must do. You won't be able to fit everything in. Here are some of my favorite things to do and places to eat:
restaurants: 3 Dives, Bourbon Beach, Sweet Spice, Collettes, Ms. Sonia's, Kuyaba, Cosmos - I have a more extensive list on my work computer and will post on Monday.
To Do: Rick's Cafe (very touristy but still worth the visit to see the divers and sunset), Black River (tour down the river for scenery and crocodiles), YS Falls, Mayfield Falls, Pelican Bar, Appleton Rum factory (we were bored as heck but managed to sneak out of the tour and go straight to the unlimited rum tastings), Office of Nature
My all time favorite thing to do is just chill out on the beach.