Transport -The location of this hotel is perfect for getting around. Four of us stayed for a long weekend, we hired a private water taxi to and from the airport (cost E110 each way for the four of us, buy ticket at airport on arrival) which drops you right outside the hotel and we purchased a two day water bus ticket from the kiosk outside the hotel which takes you everwhere you'll want to go around Venice and the islands, this ticket is great value and a must.
Hotel general - Great location looking out over the water. Nice inside/pavement bar and restaurant, small and efficient front desk area leading off to the lifts and restaurant. Very helpful front desk staff.
Rooms - Not the largest and fairly basic, classy decoration. Nice bathroom with bath and great shower. Our room overlooked roofs at the back which was ok for us as we didn't spend much time in the room, if you plan to spend time in the room pick a front lagoon view. Mini bar very expensive. We bought bottled water at a local shop for 1/10th price.
Food - Breakfast (included) was a bit of a letdown if like me, you like full cooked as you need to pay per item. If you like cold meats, cheese, breads and fruit, then you'll be fine with the selection included. Great to eat breakfast outside and watch the world go bye. For dinner, the food is good, portions small, but lacked the "wow" factor - that is until the bill came! Drinks are very expensive E8 for a small bottle of beer, but I guess you are paying for the location and we enjoyed many drinks sitting outside in the evenings. Service in general was good and the bar staff in particular were excellent. There are many places to eat and drink as you make your way around Venice, we dined at Rialto where there are a number of canal side restaurants so the prices are keener, Burano and the Lido.
In general - Great location, great service, food and drink ok but expensive, rooms nice but basic and if you intend to spend time at the hotel, book a water facing room.