We arrived early in the morning and wanted to find quick accommodation. We ended up staying here because a few of our friends were here too. We payed 1300baht a night for 3 people in one room. However this meant 2 twin beds and a mattress on the floor in between them.
If you decide to go to Phi Phi then realise that this is (I think from memory) the second most expensive place in Thailand (Phuket the most expensive) so expect to pay big bucks for rooms compared to the rest of Thailand even if the quality isn't up to scratch. However that being said, if you hunt around I am also sure you will find better value than here.
The thing that annoyed me the most about this place is that when we got up early one morning (6am) for our private trip on a long tail boat the man at reception demanded we show him our passports and demanded we didn't leave until he checked up on us! If I recall it went something like this "THIS IS MY HOTEL! Show me your passports! You did not pay" This could have been avoided if the reception staff had made note that we did in fact pay! Never mind!
I probably wouldn't stay here again but the plus side is, is that its nice and quite which is a great bonus!