I arrived in Montezuma without a hotel reservation thinking it would be easy to find a place to stay. Unfortunately, given the holiday travel season, almost every single room in the area was booked. After much frustration, I was able to secure a night at La Cascada. The room was very dark and smelled of mold and varnish. There were no windows in the room either, so I was not able to air the room out. After seeing the room, I immediately started walking around the area in search of a different hotel. I ran into other travelers who informed me that accommodations at other places were much, much worse - i.e., roaches in the beds, no windows, no bathrooms, etc. I gave up my search and headed back to La Cascada.
The rest of the hotel was actually quite pleasant. There is a large common area with hammocks and rocking chairs to lounge in and a pretty decent restaurant downstairs. Perhaps the room I was given was the worst room on the property given it was the last room available, but if booking a room in advance I would definitely look elsewhere. There was no hot water and no water at all in the morning.
The next day I stayed at El Sano Banano which was a significant upgrade, but also cost $95 compared to the $40 I paid at La Cascada. Couple more things to note, La Cascada does not accept credit cards and the receptionists do not speak English.