Only stayed one night here, but it was wonderful. This hotel is right on Lake Ashi and our room had one wall that was wall to wall, floor to ceiling, window. We spent a few hours just lying on our beds looking out over the lake and gazing at Mt Fuji in the distance. Very relaxing and pleasant. We also took a traditional Japanese hot spring bath, indoors and outdoors. The bath is a bit small but very nice and it was almost next to our room. We had "western" beds, but some rooms have tatami mats and futons in the traditional Japanese style. We had a nice buffet lunch and the staff were very helpful and friendly. I look forward to visiting this onsen again.

Located right on the edge of Lake Ashi this hotel is a fantastic location to see Mt Fuji & is only 50 metres to the wharf for the Pirate Ship cruise. The rooms are well used and need some refurbishment but the location more than makes up for the rooms. Unable to see Mt Fuji during the day due to the cloud, on dusk with our Welcome Drink we enjoyed fantastic fews of Mt Fuji as the clouds rose & then again in the early morning before the clouds decended. Room Service was quite reasonably priced, as there is not much else, this part of Hakone is definately a day time place.

The Hakone Hotel was convenient for us as a one night stopover whilst using the two day Odakyu Hakone pass and travelling fairly light. For that circuit the location is perfect, right on the edge of Lake Ashi, 200 metres from the pirate cruise ship berth at Hakone Machi.
The Hakone Hotel itself is a mixture. From the outside it looks like a penitentiary, but inside it has great views over the lake to Mt Fuji (on a cloudless day). The hotel seems to be trying (and failing) to be classical European rather than Japanese. It has a somewhat faded grandeur and a very expensive French restaurant (just eat out or buy some snacks from a deli). Our "moderate twin" room - AU$137 per night including taxes (through Expedia) was very large and comfortable by Japanese standards. It had two double beds and a picture window with views of the Lake. The Hotel also has a small communal spa bath fed by hot springs (very hot) which is good to experience if you don't mind getting nude with a few strangers (segregated male and female bathing times).
The Hakone Hotel would not be suitable for a long tern stay; fussy people or those requiring luxury. But as an overnighter for self sufficient travelers it is an interesting option. Our recommendation refers to Hakone pass users

We only spent one night here after a trip to Mt Fuji and it was at the end of the pier of our lake cruise so we walked the short distance from the boat to hotel.
Very scenic spot but rooms need to be redone in a more modern way with white bedding, etc. to feel clean and fresh. Very large rooms however.
Breakfast buffet was good.
This was spring break week and all the guests were in a festive mood and hotel was fully booked.
I think this may be the best bet in the area.
Complaint: very limited food service hours at night at either restaurant or bar.