Hotel Villa de Pescadores (Calle 14 No. 93, tel. 986/862-0020, US$32.50 s with fan, US$37 d with fan, US$47 d with a/c) is the best option in town. Right on the waterfront, all nine rooms have spectacular views of the estuary and the Gulf of Mexico beyond. Each is clean and spacious and has a balcony or terrace to boot.
You get what you pay for at the Posada Leyli (Calle 14 at Calle 11, tel. 986/862-0106, US$18.50 s/d with shared bath, US$23.25 s/d with private bath), a very basic hotel with old beds, toilets without seats, one bare fluorescent bulb per room, and walls that are begging for a coat of paint. It’ll do for a night though. Try to snag one with a balcony.
Posada Isla Contoy (tel. 986/862-0000, US$18.50 s/d with fan) is the name given to five small, very basic bungalows operated by Restaurante Isla Contoy and Río Lagartos Expeditions. Located next to the restaurant, all have private bathrooms and hot water.