If you want to stay on top of the mountain (which we found is a must if you do not want to rush the hill up and down on one day, missing both sunrise and sunset) the Kyaiktiyo Hotel is one of only 2 options you have. Our room was simple but pretty ok for the 1 night we stayed and – amazingly – had a wi-fi connection which was really fast (for Burmese standards). Good value for money.

Stayed here as part of a tour. Good sized room but some way from the main body of the hotel up and down quite a few steps. The greeting with a cold bottle of water was most welcome as it is a reasonable hike from the truck drop-off ( though nothing compared to the walk up to the rock itself ). Because of location your more or less restricted to eating and drinking in the hotel which makes it a bit odd that you had todecide and order your evening meal 1 hour in advance of when you want to have it.
The food relative to elsewhere in Myanmar was expensive for nothing extraordinary, but then they have a captive clientele of westerners. Included breakfast was OK. Aside from the bar closing incredibly early itwas probably the best "service level" we experienced throughout Myanmar.

There aren't many options if you want to stay near Golden Rock itself (rather than in the town below). Located at the top, near Golden Rock, it has a great view over a forested valley. We enjoyed staying here, though it was very expensive compared to the other places we stayed in Myanmar. The room was on the smaller side, but it was fairly nice and comfortable. No A/C, but it got pretty cool at night so that wasn't a problem. The restaurant was decent, though pricey (note that you have to order an hour in advance).