Quite a mixed experience. To start with the downsides: despite a very friendly staff and welcoming reception, both restaurants underwhelmed us. The a-la-carte dinner one at ground floor (different from buffet one for HB dinners and B'fast and the a-la-carte Chinese one) was noisy, good food, but more overpriced than St. Moritz restaurants in general. B'fast was quite unbalanced. Not enough choice in breads (no sweet ones at all), one toaster which was removed 2nd morning possibly related to a HUGE group booking packing the restaurant, hardly any hot foods. On the other hand lots of choice in fruits, jams and yoghurts - all in all maybe 2-3 stars on this side.

Then the pros. Free cable car and bus/train pass if you stay 2+ nights in summer season. Lovely indoor pool (unheated) with nice bathrobes and a relax zone with free juice & mineral water. Standard rooms "we cannot say much about", they looked of mixed sizes and not that big/comfortable. Due to the same huge group we got a free upgrade to the 6th floor penthouse suite (there are also a few smaller suites, 2 on 5th floor which means only one stairs to climb). Only downsides of that room are the bathroom (nice double bath but no way to use the shower in it safely as there's no attachment rail to wall or ceiling), the 2 floors of stairs and maybe a slightly bigger risk for water pumping problems (quickly repaired) due to being top floor. But for the rest the pictures speak for themselves: a supercalifragilisticexpicalidocious experience (to speak with another magic person, Mary Poppins), huge living room and greenhouse-like annex which was nicer than having a balcony: doors can open, fresh air, but still full VIP privacy which is nice with the risk of crowds watching outside. Extra pulldown double bed in the living room, and a wood stove which we did not dare to ask for using as after all it was a free upgrade. IF you can afford it, go for it!

Lovely hotel with very helpful staff. And the dinner was divine. Salvatore at the kitchen knew exactly what wine would go well with what we ordered.
The bus runs from the centre of town to the lake frequently and is a very nice way to get about. Otherwise there is a lovely walk down through the woods that take you right to the car park elevators and then these take you down to the lake.
Definitely recommended.

The hotel is less than a 5-minute walk from the nearest ski lift. The location was perfect, because my spouse and I were part of a small group that stayed at the Steffani for a week to go skiing. The group opted for the inclusion of dinner in our rate (breakfast is automatically included), and the food was surprisingly good! The owners were charming, and their staff was very attentive to all of our needs. My only complaint was that the bed, though firm, inexplicably sunk in the middle.

We booked a 3-nights package with the Tourist Office online and chose Hotel Steffani due to its location (downtown and close to the lift). It turned out to be a great choice as we were given one of the only 3 renovated rooms (at that time but hopefully they renovated more now) that was great. They entirely renovated the room, the bathroom and the windows. It was all light colored wood, with wooden floor and wall with zen-style bath and showers. The room had a lot of "hidden cupboards" for clothes. Everything was so new and pure luxury. Breakfast was great as well with home-made bread and a lot of fresh fruits. So do ask to be put in a renovated room, you will pay an extra, but it is so worth it !!!
The hotel itself has a small indoor swimming pool, a sauna and a PC free for guest to use. The building itself is very old and beautifully renovated. They also have a garage for skis, a free non-covered parking just in front of the hotel (only 6-8 places) and we can leave the ski shoes in front of the rooms in the corridors.
We skied in Corvatsch and Corviglia, but preferred Corvatsch as it was less crowded. Unfortunately we did not have time for Diavolezza, but were told afterward that the views were magnificent.