Will you be staying in the Old Town or the port? We stayed in the Marina Hotel in the port but had some problems with lack of air conditioning and rude restaurant staff. If we were to go back we would probably choose the Aimia Hotel. If staying in the old town have a look at [broken link removed] I would choose the port in preference to the Old Town.
You can catch a bus from the new bus station in Placa D'Espana in Palma that will drop you off in the port close to the Aimia Hotel. You can get bus no.1 from Palma Airport to Placa D'Espana. Go down the escalator steps beside the bus stop and the regional bus station is to the right, underground.