We were across from the elevators but on fourth floor and across from the laundry. We were worried as soon as we saw it, but never heard a thing all week.
We have stayed in that room twice and have absolutely no recollection of any elevator noise. The headboard of the bed abuts that wall, too - so I would say that elevator noise is not a problem in Villa 120.
I would think that there would be more noise if you are staying on the first floor. The mechanical room that houses the pump and equipment will be on the first floor and the pit and piston will be on the first floor.