Considering its many attractions and exhaustive shopping possibilities, Masaya should have more and better hotels. Unfortunately, the town is very much a 1-day excursion on most people's itineraries, with people preferring to stay in Granada or Managua instead. Thus, there's a dearth of decent inns.
Note: This information was accurate when it was published, but can change without notice. Please be sure to confirm all rates and details directly with the companies in question before planning your trip.