We just got back from our trip to the Cinque Terre, what a beautiful, unforgettable place! This was our "home base" for our vacation; Vernazza is such a charming village to stay in. We checked in on a day the associated restaurant, Il Pirata was closed. A local guy they hired to meet us led us up the hill a ways to our room, no sweat. The building is split into 2 studios, I think. The room is average size for Italy and the bed was pretty comfortable, the bathroom was fine. The temps were warm but the room stayed cool, especially with the provided fans. The babbling brook outside your window acts like a noise machine to help you sleep. Don't expect cleaning service every day, it's every 2 days instead. They also have a little shared kitchenette you can use if you want. No WIFI in the room, but it's free at Il Pirate restaurant, about a 3 min walk. Our "neighbor" was a guy who liked to listen to his music REALLY loud before dinner time, right when my wife and I usually take a little nap. He turned it down a little when we asked, but be warned the walls are THIN.
Finally, the breakfast was included and really excellent. The brothers that run that restaurant are masters of their craft, especially pastries (don't even think about asking for eggs & bacon). They are also really nice guys.
Overall the value was excellent, especially staying IN Vernazza. The breakfasts were amazing, and the room itself was pretty good.