Concierge.com's insider take:
Churchill and Eisenhower stayed here before it opened in 1972 as a hotel. Today, guests pay through the nose for views from this apricot-pink villa hanging precariously over the Faraglioni rocks. The Le Corbusier–designed inn takes full advantage of its location, with picture windows in the lobby and balconies in all 43 rooms and suites. You can gaze down the cliff while lazing in two heated saltwater pools without ever leaving the water. Fireplaces, antiques, and marble adorn the public areas; plushly appointed guest rooms feature large bathrooms. The Bussola poolside restaurant is the sweetest spot on the island for watching sunsets. For classic Mediterranean cuisine, head to the hotel's upmarket Bizantino restaurant.
Open from mid-April to mid-October.