Had a wonderful stay at Hotel Vagabondo. It was clean, welcoming and very well priced. Staff was nice and helpful and food was great. It's small and isn't fancy but for that reason, it seemed homey and comfortable. The location was good, kind of mid-distance from a lot of things. Mostly very quiet except for the bar next door. It didn't bother us too much but it might if you had small kids.
Other than that, everything was great and I would definitely stay here again!

First, the caveat. As other reviews have noted, you are a bit out from town, so unless you have a car or don't mind a healthy walk (that's what we did), you may want something closer to town or in a more inclusive resort sort of place. I'm guessing if you are looking at this review, you don't fall in that latter group. The rooms (we stayed in 2 different ones because we extended our stay in Arenal) were both great. Comfortable, clean, nicely decorated, hot shower. No complaints. Breakfast was your typical Costa Rican b&b breakfast of eggs, toast, gallo pinto, and fruit. There is a small pool that we never used, but it's nice to have options. This b&b also has a great little gift shop attached to it with a wide variety of products. There is a also a great Italian food / pizza place attached. I really can't comment on anything but the pizza since it was so good we had it twice. I believe the exact one we had was called the Diabolic. If you like spicy and you like pizza, you might have it twice too :) Finally, the staff was very friendly and helpful. All in all, a fantastic value and highly recommended.

We stayed in this hotel for $43 a night with breakfast included. they serve eggs, toast, fruit, coffee & juice. There's also a souvenier shop at the hotel & a pizzeria and lounge right next door. The receptionist is very nice. The rooms are very comfy, they have heater/AC, TV,safe & hot water for showering. Town is 5 mins away by car, The springs Resort is like 15 mins away, Arenal Volcano is 20 mins away..overall a great place to stay, its a very safe place too. i truly reccomend it. :)

We stayed at the Hotel Vagabondo 1 night and I cannot say anything bad about this place. Since we were going to leave early in the morning, we paid $40 for the room with no breakfast. Jonathan was very nice and helpfull. We had the first room just beside the little patio where we could relax either on the hamac or in the rocking chairs. Room was very clean and service very good.