I highly recommend Arca de Noe! Christian was a great host and cook - he made lovely spinach ravioli (all from scratch) on our first night. The best thing about this charming, lovely place is the garden - the hotel has a huge flower filled garden right on the water and the cooks pick limes and avocados straight from the many fruit trees and make the freshest guacamole i've had!
Don't expect the latest mod cons as the Arca is rustic and runs on solar power. However, that just adds to the charm and the tranquillity of the place. If you want a bit of a party and drinks, just pop across the lane to Iguana's, which is a loud, backpacker type of place. I much preferred then heading home to our lovely Arca and be serenaded by the sounds of nature. Oh - the view that you wake up to is the lovely volcano across the lake - simply magical!