At 20-30mins walking distance to Portofino (on a nice footpath set into the hills and overlooking the sea), this hotel is well located for visiting the village whilst escaping the incredible hotel costs of Portofino itself. It's also an easy 30min walk to Santa Margherita Ligure along the coastal footpath from the hotel.
The included breakfast was very good, and the staff were very kind and attentive.
I overlooked the detail that the room I booked was not ensuite, but had a dedicated bathroom nearby, which I regretted as this was inconvenient. Other rooms did have ensuite. This is a budget hotel in a very expensive location so close to Portofino.
Paraggi only has three restaurants, which are even more expensive that eating in Portofino itself.
If returning, I would probably stay in Santa Margherita Ligure, for the plentiful restaurants, shopping, beach, and lovely port/harbour, and then use the frequent bus to visit Portofino.
I would recommend visiting Protofino early in the morning, before the cruise ship visitors arrive, then you can enjoy the beauty and peace of the place.