First of all: The terrace is huge and does provide a view to die for. We were there for five days and stayed at the top-floor of the independent Villa Colmegna which is operated by the nearby hotel.
The villa is not an integral part of the hotel so if you are looking for the usual services from a hotel of the standard like Hotel Camin they are not available. There is some 5 minutes walk between the flat and the hotel - on a not so pedestrian friendly road.
The flat itself is nicely refurbished. You will find a decent kitchen with dishwasher and microwave. The bathroom is OK and also provides a landry maschine.
Living room is spacious with nice and simple furniture plus a TV. Bedroom is clean and airy.
Minuses: The access to the flat requires climbing 90 steps on a very steep staircase. If you have heavy luggage and perhaps are not in the greatest shape you will suffer and sweat as well as be out of breath...
The villa is placed right above a fairly busy road so do expect quite a bit of noise 24/7. On the rear of the villa there is a rail track with trains passing occasionally. It is not as bad as it sounds but ow you know.
Would we stay there again? No. Lake Maggiore is beautiful but we did not take into account the very damp environment and will probably be more prone to seek something more explicitly Italian.