Hi bellys - Caribbean World went a total refurbishment last winter and now is an AI hotel. It is situated at the far end of the Touristique Zone about 4 miles away from Mahdia town. About 4 dinars £2 by taxi .I am not sure what you are looking for, but Mahdia is a quiet traditional fishing town with little tourist influence, so no chance of lively pubs and bars. I does however have a beautiful beach and shallow clear water suitable for children. Most of the night lie is centered around the hotels. If you are looking for something with a bit more to see etc, then I suggest that you opt for The Marhaba Royal Salem in Sousse. Sousse is much livelier and has quite an active night life and lots of shopping etc.
We live in Sousse for the 6 winter months and have actually booked a week at the end of January at the Marhaba Royal Salem Hotel for a change, so would be interested in any reviews of the hotel. Whatever your decision, do enjoy your holiday. Jenny x