If you don’t mind the prison-gray paint and have flip-flops for the shower, Hotel San Juan (5 Av. SO at 6 Calle, tel. 504/553-1488, US$5.25 s/d with shared bath, US$7 s, US$ 10.50 d with private bath, cold water only) is an acceptable cheapie in San Pedro [1].
Hotel Marina No. 1 (6 Calle SO between 5 and 6 Av., tel. 504/557-2953, US$7 s, US$8 d with fan and shared bath, US$4.50 more for a/c, cold water only) isn’t necessarily nicer, but is at least painted in cheery yellow.
A big step up is the Gran Hotel Marina No. 3 (3 Calle SO between 5 and 6 Av., tel. 504/557-8722), by far the top of the line in the Marina chain, with clean rooms, decent decor, and peach walls. Prices vary according to amenities: whether the room has hot or cold water, a fan or air-conditioning, a shower or a tub, and wireless Internet. A double with a fan and hot water goes for US$18.
Although its double rooms place it in a higher price category, the Tamarindo Hostel has dorm rooms for US$15 per person.
Links:
[1] http://www.moon.com/destinations/honduras/central-honduras/san-pedro-sula