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Hotels for Budget Travelers in Panama 

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  • 1
    Hostal Refugio del Rio

    Hostal Refugio del Rio

    Ranked #1 overall in Boquete hotels
    3.5
    2 reviews

    Living up to its name, this is a tranquil cottage hostel built among the forest and flowers and right by a small stream. This is definitely the place for budget-conscious...

    Popular withBudgetBackpackers
  • 2
    Luna's Castle Hostel

    Luna's Castle Hostel

    Ranked #2 overall in Panama City hotels
    4
    7 reviews

    The big art in every room, the barefoot receptionist, the high ceilings and old wood banisters, the high-quality furniture in the common spaces, the “movie theater”, the ocean view, the...

    Popular withBackpackersBudgetStudents
  • 3
    La Estancia

    La Estancia

    Ranked #7 overall in Panama City hotels
    4.5
    2 reviews

    Really, this place is not much to look at: it's a renovated old Army-built officers quarters in the Canal Zone, and inside, the furnishings are simple. But just sit for...

    Popular withBudgetHistoryOutdoor
  • 4
    Coral Suites Aparthotel

    Coral Suites Aparthotel

    Ranked #25 overall in Panama City hotels
    4
    2 reviews

    This hotel gets five stars in my book purely based on what a great deal it is. For under $100 including taxes, you get an entire studio apartment, including an...

    Popular withStudentsFamiliesBudget
  • 5
    Toscana Inn Hotel

    Toscana Inn Hotel

    Ranked #16 overall in Panama City hotels
    3.5
    2 reviews

    This is a pretty good deal, considering it's right in the middle of El Cangrejo. The rooms are a little crowded but perfectly modern with a large new TV and...

    Popular withBudgetBusiness
  • 6
    Casa Cuba Hostal

    Casa Cuba Hostal

    Ranked #28 overall in Panama City hotels
    3.5
    2 reviews

    This is a terrific, affordable, family-run place to spend your time in Panama – if you don't mind being far from the center of town. And that's a big if....

    Popular withBudgetBackpackersLocal
  • 7
    Hotel Costa Inn

    Hotel Costa Inn

    Hotel Class:
    Ranked #3 overall in Panama City hotels
    4
    5 reviews

    I found the exterior and lobby of this hotel pretty plain, but it was all forgiven when I walked into the room and found it huge and even a little...

    Popular withBudgetBusinessStudents
  • 8
    Hospedaje Casco Viejo

    Hospedaje Casco Viejo

    Ranked #13 overall in Panama City hotels
    3
    3 reviews

    This is the cheapest place I know of in town – just $11 for a dorm room and $25 for a private double room – so it's no surprise that...

    Popular withLocalBackpackersBudget
  • 9
    Hotel Milan

    Hotel Milan

    Ranked #33 overall in Panama City hotels
    3
    2 reviews

    Nothing too fancy at the Milan, but you won't find many cheaper hotels in El Cangrejo. The porter that showed us around joked that “we have everything that a five-star...

    Popular withBudgetStudentsLocal
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  • 10
    Hostel Heiki

    Hostel Heiki

    Ranked #6 overall in Bocas del Toro hotels
    3
    1 review

    Upon checking into Hostel Heiki, the wonderful woman behind the desk warned me that there's a lot of partying, alcohol, and sex behind their doors, and she wasn't wrong. For...

    Popular withBackpackersBudget
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