Koh Phi Phi Viewpoint is located in a private area, so you have to pay an entrance fee. There are actually 3 viewpoints, the 1st, just on right after the entrance, which is good introduction to what you can see above at viewpoint No. 2, the best known and most popular. Viewpoint 3 is outside the private area and has a small terrace with a small restaurant which offers some Thai dishes at very reasonable prices and some tables. Surprisingly there are less people here although the setting is much more pleasant (and apparently access is free). It's very nice to come here in the evening to see the sunset and have dinner or a drink. In this area you can also find several paths to wlak around Koh phi Pi island and reach more isolated and less crowded beaches.
See here a list of accommodations close to Koh Phi Phi Viewpoint