Hotel Arlecchino and Hotel Olimpia actually seem to be the same business, as my room was physically in the next door Hotel Olimpia.
That said, I had the cheapest room available, and the only issue was that it was on the ground floor with windows opening to the breakfast patio. The room was large, with working air conditioning, in perfect shape, and gorgeous with marble floors, decorative tiling in the modern bathroom, brocade wall paper etc. Also included free bottled water. Staff was always attentive and prompt and polite. Excellent experience.