La Vega [1] is best reserved for a day trip. It is more desirable to stay in nearby Jarabacoa [2] where the accommodation choices are more plentiful. Unfortunately, the accommodations and food options in this town leave much to be desired with some truly dismal choices.
But should you get stranded or simply decide to stay, the Hotel El Rey (Calle Restauración 3, tel. 809/573-9797, US$49 d) is the best choice. Rooms are clean with cable TV and a fan but showing their age. There is free parking and a restaurant serving good comida criolla (Dominican food). The staff is attentive and friendly.
Links:
[1] http://www.moon.com/destinations/dominican-republic/el-cibao/la-vega
[2] http://www.moon.com/destinations/dominican-republic/el-cibao/jarabacoa