If you are diving I recommend you stay somewhere on Ambergris Caye. We were there 2 years ago and stayed at the Costa Maya resort, it was not too bad but nort a 5star. All seperate villas with a dive shop right on the pier. Captain Morgan's is said to be very nice. Be prepared to spend a fair bit of money on water taxis. They are pretty much the fastest way to get to the town of San Pedro. Be sure to go on the full day excursion to dive the Blue Hole. It is a deep dive of 135' - 145' with quite a few good sized bull sharks so it is short but pretty cool. The next two dives sites of "half moon caye" and the "aquarium" were fantastic! The area is beautiful but very 3rd world.
I recently went to Ambergris Caye, Belize. We stayed at Matachica. We went diving with Belize Academy of Diving (B.A.D.); it was a top-notch, serious, group to go diving with.
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