Just got back from a 3 night stay in April 2004. It was a really great experience and we have no regrets about staying at Asteras Villas. The view was unbelievable. It is right on the caldera in Fira, steps from the main road (and fortunately not too many steps). We had a huge balcony, private in that it was only for our room, but not private in that people above and to the side can see you. It looked right into the volcano sea, with Oia to the right and Thirassia straight ahead, perfect sunset view. We spent a lot of time chilling on the balcony, reading and admiring the view--I think that getting a view is crucial and I would make that my number one requirement if I ever return to Santorini. If I come in the summer, maybe a pool too, which Asteras does not have. The room itself, well it was actually a house. We booked a double room which has a bedroom and then a living room, but the friendly, professional and cool manager Tasso (a young Greek educated in the states who speaks perfect English) upgraded us to the big cave villa. It was ridiculous. Bedroom with queen size bed, another bedroom with a double bed and a twin bed, and the living room with "kitchenette" (if you plan on doing a lot of cooking it would be inadequate, but it's great for making coffee). The bathroom with shower was pretty large and clean. There is a switch in your room that you have to flip up to get hot water, but I think many hotels in Santorini are like that. The hot water lasts about 20 minutes before it starts cooling off. This was my only real complaint about the place since I enjoy absurdly long showers. One more thing is that it gets really humid inside cave hotels in general. They try to combat this by having a dehumidifier in the rooms though. Breakfast was good: Greek yogurt and honey and an assortment of breads and jams. This hotel is rated as a 4-star...I think that's accurate for Greek hotels, but I would probably rate it a 3. It is again very clean and spacious, it just has that old look and feel I wouldn't associate with 4-star hotels (like older pine furniture, discolored moldings between tiles, rough towels--really nit-picky stuff). I would definitely stay here again.
Prime location in Fira. Excellent terraces with sunset views on the caldera. Reasonable rates (60 euro, off season).