I've not stayed here, but thought I'd chime in to say the space formerly known as Ascolago had been sold sometime in 2008 or '09 to the owners of The Eden Roc Hotel (next door). After extensive renovations, it reopened in spring 2010 as The Eden Roc Hotel Marina. The Eden Roc Hotel is very fancy and sumptuous so you can imagine the transformation that took place. Geared toward a sporty clientele, the Marina is especially nice for those who enjoy boating, I am told. The great views of Lago Maggiore are still here and the garden terrace has been remade gorgeous. With Pasqual (not sure of the spelling of his name) at the helm of the bar, in good weather you can set yourself up quite comfortably and take in the breathtaking view.
This is not a review of the hotel as it was formerly or currently! I'm afraid I got carried away with the info here, but I hope it is nevertheless helpful. : )