I only stayed at Hotel Cotopaxi because I had arrived in Latacunga late at night and it was listed in my Lonely Planet book.
It was $15 for a single room overnight. That's pretty pricey when you're used to staying in rooms that are $6-$8. This may seem like an insignificant amount to the normal traveler, but when you're on a budget and can get a nicer room around the corner for $10- it makes a difference.
They had assured me that there was hot water- which there was not, and the internet was in and out. The bathroom shower was pretty dirty- so the few minutes that I was in there attempting to wash my hair without letting the freezing water touch my body- I was happy that I had brought along shower shoes.
The bed was fine but I felt like there were things crawling on me... but that could have been because my hair had been standing on end from the cold water and then being in a cold room since it was winter. I didn't have any bites on me the next day- but I will say that due to the feeling of having creepy crawlies on me it was not a very restful night.
The next morning I luckily got up unusually early, because otherwise my wake up call would have been hammering due to work they were doing in the room next to mine.
The staff was really nice though. I ended up getting a highly rated hostel about two blocks away and was really happy with my stay there, especially since it was cheaper and included a great breakfast- which Hotel Cotopaxi did not have.