I stayed at the Excelsior at the end of July 2013 with my wife and 2 year old and I'd highly recommend it.

The good:
- we had a phenomenal view of the bay of Naples and Vesuvius with a balcony and that has to be one of the most glorious sights from any hotel in the world.
- the location is of course fantastic - we enjoyed being on the waterfront and somewhat removed from the buzz of the city. it felt like a very serene retreat and, given the intense vitality of Naples, that is perhaps more important here than most other cities in the world. and in the evening the waterfront becomes a popular spot for a passeggiata.
- the concierge was excellent - his tips for shopping and eating and going for a stroll were all spot on. we wanted a last minute reservation at da dora and he scored that for us.
- it's got some good history, certainly with the list of people who have stayed here.
- the room itself was beautiful and understated in its elegance - I'm a fan of fabric wallpaper and parquet floors, and the bathroom was suitably luxe.

the bad:
- the breakfast on the terrace was not awful but it was some way below my expectations of such a hotel. the sfogliatelle were really excellent and they had some interesting tarts and cakes but the basics were woeful: no decent bread, the juice was from concentrate, the tea was derisory, and the cold cuts were not exactly of the highest quality.
- there's no way of taking a shower without spraying water all over the bathroom; the glass partition just isn't big enough.
- internet access is expensive

We were very happy with it.