La Iguana Perdida is one of the granddaddies of Guatemala's backpacker scene, but you wouldn't know it from its ever-fresh appearance. It features a range of rooms, from a basic dorm in an A-frame cabin to the more decadent (an adobe structure with stylish furnishings and private balconies). Evening meals are served family style, making a stay here highly sociable.
The Iguana is a great hangout to enjoy the lake views and meet other travelers, go scuba diving or kayaking, or sweat it out in the sauna. There are regular evening events, from quiz nights to music and even barbecues where guests are encouraged to dive into the house dressing-up box.