I've stayed at the NJ several times, usually when I was catching an early bus (they're within walking distance of most of the bus stations). I've always been able to pay their old rate of $10/nt, maybe because I'm an old customer. So I can't really tell you what they'll charge you. I can tell you most of the commentary here on the NJ is by guys who have NEVER actually stayed there themselves.
Like Cali said, you get what you pay for. The NJ rooms themselves are adequate but no more and hardly what I'd call cheery. They're fairly large and roomy, and reasonably clean but not spotless. I have seen a couple of bugs there, as you can just about anywhere in the tropics, but its not overrunning with them and most importantly I've never had a problem with any bedbugs (as I had once at a $25/nt place in Managua). The TV is not cable and only gets fuzzy spanish language channels. The hot water in the shower runs out fast, so either get up early or take a very fast shower. You can ask for a room on the street side, which gets extra noise, or on the inside, which doesn't get as good air circulation. You have to ask for a fan for your room (they'll give you a noisy standup floor fan). Otherwise, the rooms can get pretty stuffy and the only air circulation comes from the window. The door locks seem reasonably secure, but if you get an inside room on the 3rd (2nd? the floor right above the lobby/mezzanine floor) the rooms
conceivably could be accessed through the windows from the central vent space. Personally, I've NEVER had a problem with ANYTHING being stolen from my room and Hank, who hasn't even stayed there, doesn't really know anything about NJ's security. The staff at the hotel are all Nicaraguan and are very nice. Be sure to ask one of the maids for extra towels as they're rather stingy with what they give you at check-in. The location is half a block south of the central market and not an area you want to be wandering around late at night, after the neighboring businesses close and the streets empty, but then you probably should be taking cabs whenever you go out at night in SJ anyway and cabs are easy enough to hail from the front door of the hotel. During the day, walking around the area is reasonably safe but you should watch out for pickpockets as you would in any other crowded urban area.
Personally, I usually prefer lower end places (I've even stayed at an $8/nt place in San Isidro once), but I think there are better values in SJ. The Hotel Doral is not that much more than the $15/nt they charge now at the NJ, but is a world away in terms of quality. They charge $30/nt (including tax but not the $5 chica fee). Large spotless rooms, and quite pleasant with wood wall paneling in some rooms and no bugs ever spotted in any of them. Cable TV with CNN and english language movie channels and wireless internet. Sufficient hot water in the showers. The outside rooms can get a fair amount of noise from the street and nearby nightspots, as can a lot of hotels downtown (INCLUDING the Morazan). But I always ask for the outside corner room below the restaurant on the top floor (I believe that is Rm #506 but Rms #504-505 will also do) as they're furthest from the street but afford an excellent view of the mountains to the south. The rooms don't have a/c but all have reasonably quiet ceiling fans that are more than adequate to keep the room cool (actually, I don't recall but I think the inside rooms might have a/c). Most people will tell you that a/c isn't really needed in the CR highlands if you have a well ventilated room, particularly not at night which is mainly when you'd be in your room. The rooms are very secure with electronic keycard door locks. And, like at the NJ, the staff is very nice and helpful. The location is just a block and a half south of the NJ, but is a little less sketchy. It is located on the new Avenida 4 pedestrian mall (ie no buses and more regular police patrols). The rooms themselves here are as nice or nearly as nice as the much more expensive rooms at the other hotels CRTers normally stay at. The only significant difference is the more distant and somewhat sketchier location (and the chica fee, but if you're only bringing back 1 chica per day, the Doral is still much cheaper than the more popular alternatives).
BTW, comparing the Morazan at $52/nt to the NJ at maybe $20/nt after chica fee and cab fares is like comparing apples and oranges. Of course, the Morazan is going to be much nicer. It costs 2.5 times as much. A fairer comparison would be against the Doral, which has similar quality rooms but is nearly $15 cheaper even after chica fees and cabfares. The Morazon USED to be a deal when they had the $35/nt special ("Soprano Discount"

). IMHO, at $52/nt, there are many other arguably better value choices. The biggest thing it has going for it is its proximity to the HDR, but that is not the only place you'll be going. The Castillo can cost the same or less, depending on which discount program you get (cash, CRT, weeklong, etc.) and it is convenient to the SL and the NF.
As for its distance from the HDR, both the NJ and the Doral are a bit of a walk during the day. Personally, I don't mind the exercise and the walk is along the Pedestrian Malls so its not so horrible in terms of sights and traffic. At night, like I said before, you're probably going to be taking cabs wherever you stay (unless you're walking from the Amistad or Castillo to the SL) and the fare to the NJ or Doral is not much more than the 1km minimum base fare (about a buck, but NOT "1200-1500 colones").
As for being embarassed about bringing chicas back to either of them, have you seen where some of these girls come from? Who are you trying to impress? And why? So they can think you have lots of money to throw around? Believe me, they're much more concerned about what you're paying (and to a slightly lesser degree how long it will take to get to your place and back to the BM). Besides, if you stay at the NJ, your claims of poverty will be a lot more credible when they ask for a tip. The room quality matters much more to you with your 1st world values than it does to any chica you might
project those value on.
My picks would be the Doral for a few nights if you're on a budget and don't mind being a little further from ground zero but don't want to go the shoestring route of the NJ. The Morazan at $52/nt is no longer really in the budget category but is not a bad choice for those whose visit revolves almost entirely around the BM and KL (mine don't anymore). And, IMHO, the Castillo is the best choice for extended stays of a week or more. The CRT/cash/weekly discount brings it down into the range of more budget-oriented hotels, while still offering reasonable good quality in a good location. The NJ is perfectly fine for a night or 2 to save enough money for an extra MP session (particularly if all you want to do there is crash out at the end of the day), but if I had to spend a full week or more staying there, I think I'd slit my wrists in depression. But those are my own picks and opinions. Everyone else has their own comfort level and budget.
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Livincr,
WTF is the Hotel Posada Inn? Its never been mentioned on this site before and I could find no reference to it in any Google search. Of course, you couldn't pick a hotel with a more generic name (Posada is spanish for Inn), so that couldn't have helped in trying to identify exactly which hotel you're talking about. How about helping us out a little more with information we could actually use to try that hotel (like an address or a phone number), rather than leaving just a vague a cryptic remark?