Valalta’s accommodation is reasonably priced but the older bungalows can be a bit basic and some do not offer air conditioning but I stayed in a chalet last year and it was very good and offered all the mod cons including air conditioning and a great decked veranda.
The nearest town is Rovinj which is rapidly becoming a tourist hotspot as it is a beautiful and stunning town, here you will find a good selection of restaurants and the typical variety of small local shops, and you will also find a daily market selling local goods including tasty Croatian honey.
Valalta offers a payable shuttle service to Rovinj but it can get busy so best to hire a taxi as the cost is reasonable. You could walk, but by the time you have dodged the manic local drivers, the map reading carvanners on the narrow road heading to Valalta, you will have wished you paid the tenner for the luxury of an air conditioned taxi.