Iloilo Grand hotel used to be the queen hotel in this city, and is located in the heart of China town, no doubt a bias of its Chinese owners. Depending on what your business or purpose is, the harbor is only five blocks away, University of Iloilo is 2 blocks away. Jaro Cathedral is a 20 minute jeep ride, City Hall and the archeological museum, 10 minutes. So location is likely its prime value.
Rooms are spartan, but comfortable. You can purchase a wifi card to gain access to Internet, 50 pesos for one hour, or 150 Pesos for 24 hours.
There is room service! But only one restaurant, basically Chinese menu, but they also serve sandwiches and other dishes. But be careful, all servivings are for 3 to 4 persons! You have to ask the menu for individual service. Nonetheless, you'll have a hard time spending more than $35 a day for room and meals. There is a small magazine shop for mineral water and newspapers, but it closes at 6 PM!
The Iloilo Grand Hotel has a sister hotel about 10 minute tax ride away, the Grand Tower, which features a low cost 'turo-turo' restaurant of local dishes (like a cafeteria). Excellent variety and authenticity of native dishes and for very low cost! Rooms at the Grand Tower, a newly built hotel, are only 15 % more expensive.
For transfer to and from airport, I urge you use the metered taxi, but pay 350 pesos flat rate. It's a no nonsense 40 minute ride. Drivers are usually polite and honest, they don't beg for tips like in Manila!!! Ilongos are very proud! They work for what they earn!
By the way streets are clean, no garbage, no sidewalk vendors, no beggars. This is not Manila!!!