Hotel Regis (on Calle Central, 3.5 blocks north of the church on the main plaza, tel. 505/2522-2300, $5 pp) has a dozen neat, clean rooms (including some for groups and families), with shared bath and fan, and a respectable breakfast for $2. The couple that runs the place is friendly, knowledgeable about things to do in the area, and speaks some English—however, they are strict about running a clean shop, look down on partying, and close their doors at 10 p.m.
There are several other options on the same block, including Hostal Mi Casa (tel. 505/2522-2500, $5 pp or $20 for a simple room with a/c) in a big, open, colorful space which includes the Fruti-Fruti smoothie bar and cafetín.
If you’d rather be closer to the discotecas and baseball stadium, get a bare-bones room in a family’s home at Hospedaje Masayita (two blocks west of the central park, tel. 505/8667-7055, $4 and up).
At Madera’s Inn Hotel (two blocks south of the fire station, tel. 505/2522-5825, maderasinn [at] yahoo [dot] com, $15–45), some rooms have fan and shared bath, and more expensive ones have private bath and air-conditioning. The 12 rooms occupy two floors set around a beautifully furnished common room; you’ll also find friendly service, Internet access, parking, tours, and laundry.
Just a few kilometers outside Masaya , near the entrance to Volcán Masaya National Park , Hotel Volcán Masaya (tel. 505/2522-7114, $37) has 10 rooms with air-conditioning, private bath, warm water, and TV. There is a lovely garden and serene, remote feeling here, but you’re a bit isolated from everything except the volcano; a decent option if you have your own vehicle.
A well-run, modern option in central Masaya, Hotel Ivania’s (from Calvario church, 3.5 blocks west, tel. 505/2522-7632, hotelivanias [at] hotmail [dot] com, www.hotelivanias.com , $65 includes tax and breakfast) has 17 clean, plain rooms with air-conditioning, television, hot water, refrigerators, and tiled floors, all surrounding an attractive courtyard; budget doubles without air-conditioning are $25. Ask about the family suite and local tours.