We had arrived by car and reserved a parking spot in advance. When we arrived, we were told to just find one of the town's local pay for parking spots. This was actually convenient as we found a spot right in front of the hotel and the price for our night was less than the €15 that was listed on Bookings website. However, if it were more high tourist season, it might be more difficult to find a convenient parking space. I would recommend calling the hotel in advance of arriving and asking what the parking situation is.
We booked the room with a view of the lake, I would highly recommend this to other travelers as it really added to our stay in Bellagio. The room was nice, clean, and "Italian Lake modern". The room was also a bit bigger than typical European hotel rooms, so this was a nice surprise and allowed a bit more room for my husband and I. For the price in this town, I believe this hotel was a great find, I would recommend it to friends and would stay here again if I return to Bellagio.
Other reviews comment on the fact that guests have to carry their suitcases up a set of stairs to the hotel. My husband and I did not find these steps to be an issue. The distance is not very far, the stairs are not narrow or tiny, they are not steep, and if someone cannot lift their luggage (you probably should not have packed a bag that you cannot carry the weight of), it is easy to pull a bag with wheels up the stairs (as they are short steps). I would warn other guests that it is NOT typical in European hotels to have a bell boy or concierge unless it is a 5 star high end hotel; therefore, do not expect this when traveling.