I booked a last minute type trip between Christmas and early January and this did the trick. The resorts on the beach had increased their room rates to the point where I needed another option. For $67 a night on Expedia you just can't beat the price and location (two blocks from Marina near the Wyndham Hotel). The resorts had upped their room rates to over $800 a night. It's in the heart of downtown Cabo and surrounds the Salvatori's restaurant. Several other great restaraunts like La Dolce is just at the end of the block (a must visit).
The rooms are not huge but plenty nice unless you are used to the Hyatt or a big resort.
The only small issue we had was getting a taxi to the bus terminal. We were told it would be 50-60 peso's and it turned out to be 100 or $10. Could have been a comminication misunderstanding on our part.
- Siesta Hotel Cabo San Lucas