I called the very amicable host Bruno in advance to let him know we would be a bit late, and we found the key with written instructions including where to park, just outside the entrance to the hotel. The room was big and comfortable with a nice, clean bathroom. However, it is not for people with mobility-issues; we had to mount two flights of steep, narrow stairs to get there. There is no central heating which meant the room was cold - and stayed cold despite the a/c working on full, blowing out hot air. There was a kettle in the room (only tea bags, no coffee) and a small fridge, which was nice. The beds were comfortable and there was an extra duvet in the closet - which we needed!
Breakfast was a charming small buffet; it would have been even better if we could have had real coffee and juice (not out of a machine). The real draw of the hotel is its location, within relatively easy walking distance of Bellagio (The Borgo). Part of the distance is along the narrow road with car traffic, but for most parts, one can walk through the gardens of Villa Melzi (EUR 6,50 entrance) and along the lakeside.
Based on the overall standard, I found the price to be quite high, but then again, I guess this is the rate around Bellagio. Overall, it was a pleasant experience and I would stay here again.