The hotel is a little out of the way. I suggest renting a car, a cab, or arrange a pick-up with the hotel. Akrotiri is a little village, if you are looking for the picturesque Santorini that you see on postcards then you are better off staying either in Fira or Oia. There is no public transportation nearby so if you want to get around, you'll need to rent a car, moped, or an ATV. Other than a couple of taverns nearby, there really isn't much around the hotel. Fira is about a 20 minute drive and Oia is about 40 minute drive.
The hotel has a very relax atmosphere, what I really liked about it is that it's away from the touristy area. Penelope and Mrs Pan are very helpful and accommodating. Whenever you have a question, Penelope always has the answer and if she doesn't, she will find it for you. When we checked in, they gave us a list of what's being serve for breakfast, you just mark the stuff that you want and the time you want it and every morning, Mrs Pan was there serving our breakfast on the balcony.
The room we got was nice, comfortable, clean, and comes with an awesome view of Santorini. If you want to splurge a little, you can also get a room with a private jacuzzi. Even though the hotel is away from everything, renting an ATV will make your vacation more fun! It's the best way to get around the island!