I appreciate everyone's comments about Coco, and honestly believe I'll be happiest keeping a reservation there. Actually, what I didn't mention is that we made the original reservations through negrilonestop.com. They've been fabulous to work with and did reach out to Coco on my behalf to try to see if we could get the sale rates. Apparently Coco wouldn't budge with either a room upgrade (and I'm not even sure if there were upgraded rooms available) or to honor the sale rates on our existing room. I believe Coco was made aware that we are considering other properties if we can't get their sale rates, and they didn't even blink an eye. My guess is they know they will sell out, so don't feel there is a need to do us any favors? (Not exactly Minnesota friendly.)

We knew there was a risk of rates going down when we booked early, however wanted to secure specific dates/flights so took the plunge. So if we want to stay at Coco and get sale rates I think our only option would be to cancel and rebook, as suggested. Seems silly to have to play that game, but might have to go that route, knowing that we can always book another hotel if this strategy backfires.

Anyway, thanks for your input. I'll let you know how this all shakes out and promise a trip report.