I’ve flown on Latin simply because it was the only airline to fit my tight schedule but it would not be my first choice. If it’s your only option then by all means take it, especially with that price! It’s not comparative to the top 4 common US airlines but it will definitely get you where you need to go fairly comfortably. Azul is a better option but may not be offered out of NY.
I would stay on the strip if it fits your budget. By strip I mean on or very close to Copacabana beach IMO! Also some hotels don’t allow guest so do your research. If I’m not mistaken, my last stay was at the Windsor California. Food, location, and service were all great! Plus it was around the corner from?