It is hard to tell from the outside, but this truly is a great place to stay. The interior rooms have been completely remodeled and are very nice. Rooms include a fireplace, walk-in shower, fridge, and jacuzzi tub. They are a bit small, but very comfortable.
The owners were very nice people, and go out of their way to make your stay as great as possible. The staff was all local, and provided great recommendations on where to visit, eat, etc. while in Tahoe.
My only complaint - No Pool. Water in lake is a bit chilly for swimming.