Good location, walking distance from the best restaurants in the area. We got an upgrade to a Junior Suite, the room was nice and clean, air conditioning wasn't very effective and the water pressure in the shower was a joke.
Breakfast was included so I can't complain, but I wouldn't have paid for it, the orange juice was horrible and it wasn't much to chose from at the very small buffet.
Last time I was in Porto Cervo I stayed at Cala Di Volpe which is very expensive, so I don't have much to compare with, but I would say that the price we paid for our stay in Dolce Vita was very high. We're traveling a lot, and I have never paid this much for something like this, but I guess that's "Porto Cervo". It's supposed to be a four star hotel, I would say three, at most.
I can recommend the hotel because of the very friendly and helpful staff and clean rooms.
If you want to go to the beach every day you better rent a car, taxi one way to La Celvia/Cappricioli is around €40.