The first time I stayed at the Quinta Loreto I paid $13 for a room with bath but without television - the television cost $2 more. These were the prices only five years ago.
Now the rooms are $40 and up, still quite reasonable in a town with $300 a night rooms nearby. The rooms are very simple and the place is built rather along the lines of what I think of as a motel - like one of the old motor court hotels.
The three best things about the Quinta Loreto are the price, the location (at the edge of the Mercado Artesanias) and the excellent restaurant. Also, they have a huge parking lot, one of the few in town.