Stunning hotel location does not necessarily mean stunning or even luxury hotel. For instance top on my list would be either of the 2 star Bhutanese hotels I stayed at in Paro and Thimphu. Amazing views, crisp clean mountain air and the most rare experiences as a visitor. But not at all luxury.
Approaching Positano by boat at sunset is very stunning, but the hotel you check into upon arrival may not be.
I've had a couple of Holiday Inn rooms in Paris that have stunning views of the Eiffel Tower. I could go on.