We spent four nights at the Volcano Lodge and enjoyed every almost minute at the hotel. Our room for four just had the standard two double beds, but it was a bit bigger than average and not as cramped as many chain hotels in the US. The bathroom was nice and they do provide a nice set of shampoo, conditioner, lotion, and soap.
The perfectly landscaped grounds were the nicest we saw anywhere in Costa Rica, with beautiful tropical flowers of every color all around. The cement paths between buildings are all lined with purple Mexican Heather. I think every room has a nice clear view of the Arenal volcano, either from the front or the back patio.
The pool and hot-tub were very nice and refreshing, again surrounded by tropical flowers. One of the two restaurants is a big open air Costa Rican style place beside the pool. They serve the very nice buffet breakfast (included with the room) there and it is the perfect place to begin your day. A nice assortment of fresh fruit, juice, eggs, pinto gallo, sausage, omelets to order, coffee, tea, and cocoa.
As a fun surprise each day, the staff supplying our clean bath towels would arrange them into a new inventive origami-like arrangement.
A few small complaints: the guy working the too-small tour desk wasn't very helpful at all. But we knew what we wanted to do and there were plenty of more helpful agencies in town. Everyone else at the hotel was friendly, nice, and helpful. The other complaint is that the rooms weren't very soundproof. This wasn't normally very much of an issue for us, but each night, the "loud family" in an adjoining room would return to their room about 10:30, and their conversations sounded like they were from inside our own room.
You can't currently see the hot lava from the volcano from this location. You will have to drive somewhere else on the north side to see lava (about a 15 minute drive).
As I write this, there are two other reviews for this same hotel here on igougo. One is of the wrong hotel, the Observatory Lodge, and the other appears to be the same place a few years ago, but the Volcano Lodge is much nicer than what their photo shows. I think the hotel has probably expanded a lot in the last 4 years.
The Volcano Lodge isn't a huge multi-story hotel. It is a very nice medium size, with the one story rooms divided into a few separate sections. It is about 5 km outside of the town of La Fortuna, on the way to the volcano national park. It was nice to have a car to pop into town with or to drive at night to watch for the lava, but it wouldn't be absolutely necessary since most of the adventure tour companies will pick you up from your hotel.