I should be up front in admitting that I know the owner Paolo and his English girlfriend Anita, having met Paolo (who is a Mountain Guide several times) whilst skiing. I have sinced stayed in Locanda Margherita several times.
Locanda Margherita is situated on the main street in the sleepy Alpine village of Rassa. Although very small the village has 3 restaurants (although not all are open everyday of the week) serving very good Italian food (including good non-Polenta options for those like myself that haven't developed a taste for it). Ristorante Heide, which is very well known in the wide Valsesia valley is a 20 minute walk up the valley (spring and summer opening only). The village is totally unchanged over the years, and being at the end of a valley does have any traffic passing through it.
Locanda Margherita itself has been lovingly rebuilt to a very high standard, mainly by Paolo and Anita themselves. The rooms are basically furnished but very well done and the shared bathroom on the first floor is definitely the highlight of the house. Anita and Paolo are extremely welcoming and will go out of your way to ensure you enjoy your stay. In particular, Anita was very helpful in recommending and booking restaurants both in the village and in the wider valley. A simple breakfast is served in the morning. Paolo and Anita both speak fluent English.
Alagna and the Monte Rosa is 20 minutes drive up the mountain with a huge amount of on and off piste skiing. Whilst there is no ski hire shop in the village, Paolo is able to reserve equipment and lockers in Alagna in advance. There is also another, smaller resort 10 minutes drive away more suited to beginners and with very few other skiers.
A good proportion of guests (but not all) who stay at the B&B have booked Paolo as a ski / walking guide (through his ski guiding company Mountain Action). With 20+ years, experience and full UIAGM qualification, Paolo is a fantastic guide; I've been lucky enought to ski with him for 3 weeks in the last couple of years), with several other friends accounting for a good proportion of his bookings last year.