The Vista al Lago Hostel
Just 3 blocks from the main plaza and 1 block from the San Martin park, this new hostel offers 5 small rooms with twins beds in each. This is one of Suchitoto's newest hostels run by a local family, the rooms are small, simple with new beds, they are very clean and artisticly decorated. The hostel also offers typical meals at very good prices, sodas, beers and frescos. They patio and eating areas are small but they have a wonderful view of the lake. This is the perfect place for travelers on a budget at only $5/person. They close on thursday but if you knock on the door of the green house next door they will get you settled in.
The phone number(Spanish only) is (503) 2335-1357

From the TELECOM office(in front of the market) walk 3 blocks north towards the lake to the end of the street, the hostel will be on your right.