BEST CHEAP HOTEL ON SOUTH BEACH - 2002
The Banana Bungalow is a youth hostel, but a nice one. Pastel-colored and improbably located in one of the most expensive tourist traps in the world, the bungalow is low-key and freewheeling. The young and adventurous from around the globe pour in and out of this place, wedged into the southern end of the Indian Creek waterway. They sit by the pool, play billiards, trade tall tales by the bar. The bartender decides nightly what the happy-hour special will be, but the beer is always cheap. A night will cost you around $15 to share a room with three other travelers; private rooms $50 and up.