The hotel is fine. Not far away from the West Lake and you can jsut walk to the lake area. It is a bit east of Wulin Square, where the airport bus start to/from Xiaoshan Airport. THe main attractions are all nearby the lakeside, you can make a circle around the lake.
i would like to suggest, buy a may and follow the attractions listed in this page and you are interested too. Lingyin Temple, Aix Harmonies Pagoda and Dragon Well Tea Village is a bit difficult to find, you can take a taxi. In fact, there are bus stops along the lakeside heading for them.