Pros (+) Everything was as described. As far as Oia options are concerned, it's not a bad budget option. We were in a loft with a kitchen. There was a patio in the back with a partially obstructed view to the ocean (not a caldera view).
Cons (-) It is difficult to find and was not registered in GoogleMaps (which we rely heavily on) correctly. They need a sign on the Main Street pointing to the turn off to the hotel. Fortunately, the hotel staff was kind enough to walk out to find us near the bus station when we started asking around for help.