We had our wedding and honeymoon at Krokos Villas wich was great.
The great advantage of the hotel is a very welcoming and nice staff: all of them were very friendly and helpful. We choosed the terrace for a wedding one day before and even though it was private they organised everithing in the best way.
Another good thing is great views from all rooms, but the best are from rooms C1 and C2 - they are at the highest level and have much more privacy then the others.
The rooms inside (we had a studio) are in traditional style, not wow but still nice. To be honest for the money we paid I've expected something more luxurious. The only inconvenient thing is lack of lights in the bathroom.
They serve breakfast at your terrace from 7 to 11 when you ask for it. It is quite hearty but almst the same every day.
Swimming pool: you can use 2 jacuzzi and one pool in another hotel of the group (5 minutes walk). And the are all small, but that is the same in all hotels on the caldera.
Wi-fi is accessile only near reception.

I was surprised to read such positive reviews about this hotel on my return. The room we got simply didn't correspond to the ones on this website, neither to those on the catalogue of the agency we booked this stay from (!).
The room was quite clean, but dark and damp, the furniture old, the toilet absolutely tiny and smelly because of some trouble with the drain...
It was one of the worst hotels I've ever been in, as far as value for money is concerned.
When we complained to the management, they told us that yes, there is a difference between the ads and the real thing, which according to them is normal. But here the difference was abysmal!
Make sure that you get a decent room - not all of them are!

We spent a week here and during that time we hired a car and travelled to most places around the island, in our opinion nothing came close to this location. There are good tavernas within easy walking distance, the views are to die for, everyone we met was very friendly and it was less expensive than Fira, Oia and Firostefani. Our room was one of three on the lowest level which meant we had nothing between our terrace and the view down to the cruise ships nearly 1000ft below - perfect for a private breakfast that was delivered to our room every morning. Highly recommended.

A week spent in Krokos Villas was excellent( Olympic holidays, June 2008). The accomodation, a traditional cycladic house built into the cliff face. Ours was called Villa Rinio (Little Irene). Our cases were carried to and from the pick up point in Imerovigli centre. The accomodation was basic but kept spotless by our maid named Sonia who delivered an enormous breakfast to our table on the balcony every morning. Beyond the balcony overlooking the Caldera, was a drop of about 800ft to the sea giving uninterupted views of the cruise liners and yachts arriving in Thira. A number of villa groups share a common reception.

Imerovigli escapes the worst excesses of the hordes from the cruise ships as it is a 20 to 30 minute walk uphill. If you walk into Thira beware Estiatoria or Tavernas overlooking the Caldera you will pay over the odds for the view as I discovered above the harbour in Thira! (26 euros for a cake ,a juice, a frappe and a water)

In imerovigli I recommend 2 eating places, a little Taverna opposite the main parking area called Anestis. The food is simple and taverna basic but I noted the young waiter, who has worked in London, was able to help diners unsure about dishes. No pressure to purchase anything and good plain food.

Across the road is Kappellinos, a pizzeria. This is more expensive but the service, size of portions and quality were the best I found on this holiday. While waiting to be picked up for the return flight, my wife and I were even given a glass of water as we stood waiting in the square.

There is one major downside to Santorini. If you have difficulty walking, especially up or down steps, you will find the island's old towns very taxing. There are no beaches on the caldera side of the island but ............ oh the view!