You know this kind of place - they have been "the" place to be for so long that they have lost a bit of perspective. The staff are not unfriendly, nor are they friendly. The rooms aren't bad, but they just aren't that good. The restaurant is decent, but it is priced like something special (we differ on this from the guidebook which rates it highly). We stayed for one night andthought that the overall gestalt of the reviews was accurate. Our overall impression is 3/5.

I was underwhelmed by this hotel despite the fact that, by most accounts, it represents the best Ometepe has to offer. Rooms in the hotel part of the complex were small and dark. I don’t mind rustic but I do mind a $30/night (pricey compared to other places I’ve stayed in Nicaragua) room with a bathroom full of bugs. Literally – my first night there they covered almost every surface. When I asked the person at the front desk if something could be done, they handed me a can of Raid. Ok, so I filled the place with fumes and was left with a bathroom full of dead bugs. I was told it could be cleaned while I ate dinner but upon returning to my room, nothing had been done. I was forced to head downstairs first thing in the morning to ask to have my room cleaned before I could shower or use the bathroom. I will say that they did respond quickly to this request.
I wish I could say better things about the restaurant as I really wanted to like the food – the menu was quite appetizing. Unfortunately, the food was not (and it wasn’t cheap) plus I’ll echo the comments of others that the staff just didn’t seem particularly attentive or friendly. I rented a bike for part of the day and was initially given one with obviously flat tires. I had to point out why I was trading it in for a different one.
The setting is pretty and perhaps the cabanas are a better option than the hotels (although I met a couple who had their hiking shoes stolen from their patio while they were trying to dry them out, post-volcano hike). Overall, unimpressive.

Isla Omtepe is a special place and we were pleasantly surprised by this lovely place.
The staff appreciated that tried to use some spanish, really great food any time of day including vegatarian, great prices, private cabanas, your own hammock, views of the lake. The patio by lake which was a great place to hang out after the bar closed. We organized excursions arranged by the staff, very helpful and a little spanish and tipping goes a long way!

The french doors that open out onto the lake say it all! The first thing I did when I check in was throw open the doors and let in the warm breeze from the lake--quite lovely. I spent some time on the hammock on my front patio as well. The cabana was well appointed with a large shower, separate toilet, two comfortable beds, a small fridge, tv and everything needed for a comfortable stay. The staff in the restaurant was lovely and the food delicious--try the whole lakefish and the soup!