Thanks for everyone's commentary. In fact, I did not book a "studio suite." Here is what I booked straight from my reservation:

Traveler requests

We will forward your requests to the travel vendor, but as these are subject to availability we can not guarantee that they will be honored. Some special requests (e.g., ski racks, rollaway beds) may incur additional charges from the vendor.

Hotel: Sunrise Suites Hotel - Tinton Falls

Room: Deluxe 1 Bedroom Suite Non Smk
Room type: Non-Smoking
Bed type:1 KING BED

I called the Hyatt to complain and I spoke to a wonderful rep who took my complaint. Then the property called me and told me they have 6 overflow rooms and I, along with my parents, received two of such rooms. Then they said since those cost 10 dollars less we'll go ahead and credit you 20 bucks for the two nights. I said this is false misleading advertising to call it an all-suite hotel when it should say "almost all-suite hotel" instead!!Anyway, I went on and she said okay we'll credit you 50% on the room per night. She said that was all she could do. I still think it is terrible because I relied upon this and had I known what I know now, I would have stayed at a different hotel. Sorry to go on and bore some of you out there but I figured some of you out there might want to know what happened...we'll see if I actually get the credit as promised.

sucks that you didn't get the room you wanted/needed..... but nice that you're getting credited back 50%. never hurts to ask. some people might not have bothered to call back...

Since Irishtmac has already checked out of the hotel Hyatt's offer of a 50% credit seems like a responsible offer given the fact the hotel was unable to supply the reserved room. I find it odd that the first offer was only a $10 reduction in the daily rate. It just proves that it pays to be persistent.

It's unfortunate the original hotel clerk tried to make it sound they were supplying a suite when in fact it was not. There's no excuse for that type of behavior. All it did was alienate the consumer and, in this case, many of the people who've read this post. Very short sighted indeed.

Thats what I figured........you got what is called a "lockout room" but I guess that they call it an over flow room. They must have a few 2bd suites in that hotel. If you talk to someone again, tell them you did not want a "lockout room" and see what happens.

Good points, A Traveller.
And good job at getting fair compensation, Irishtmac. I like the new description too "almost all-suite hotel" - you should get royalties when they use it

I learned the hard way, too. The "LivInn Suites" in Cincy ain't no suites. Not even a large room. It's a shame the hotel industry doesn't have labelling standards.