Originally Posted by hailstorm

Given your objectives, I'd personally recommend the Lake Ashi area, someplace like The Prince Hakone or Hotel de Yama, where you have nice scenery, hot springs and plenty of room to spread out and go for walks.

For a two-night stay I'd probably choose The Prince Hakone, as you have a wide range of activities nearby, and direct access to the boats to take you to other areas along Lake Ashi.

Prince Hakone has a shuttle bus from Odawara station, but requires reservation and is only at specific times of day, so getting back to Tokyo may be more of a challenge depending on the time that you need to catch the Nozomi to Hiroshima.