First off - gotta say, this is a beautiful hotel with rooms carved out of a 700 year old caved monastery. The room was very nice with tasteful local decorations and great attention to detail, hotel is spotlessly clean, breakfast is more than adequate (though fresh juice and real (not instant) coffee would be nice additions. A few draw backs: I e-mailed the hotel in advance of my trip to inquire the cheapest way I can get to the hotel from the Nevishir airport. They told me that for an outrageous price they would send a driver to pick me up. I discovered when i arrived that there is a shuttle that offers transportation to the hotels in Cappadocia. They also charge 75 lira per kg for laundry, which I find outrageous given what I have paid elsewhere.
I stayed at the hotel in the heat of summer, with temperatures hovering at 40 degrees. There is no a/c or room fan. Now, it is a cave, but at this temperature, a room fan would make the world of difference. Because of the heat I kept my windows open, and the hotel staff were nattering all night in the court yard right outside my room. I was also annoyed by getting a wake up call at 4:30 am that was meant for another guest.
I think this hotel has a lot of potential. Because it is a new hotel, i am willing to give it the benefit of the doubt and recommend this hotel, with a caution.