I lived in Colima in 1990 on an exchange program and was so happy to return to visit in October 2008. I brought my husband with me so we decided to stay in a hotel rather than with the family I lived with in 1990, and since it was his first trip to Mexico we wanted to make sure to stay at a place with air conditioning. The family recommended the Fiesta Inn and it was a great recommendation.
The hotel is on the newer side, and while it is more of a business hotel, it was very comfortable. We stayed in a room with a king bed and the temperature control in the room was excellent. The restaurant/lounge area is also temperature controlled, but not the common hallways. (This is very common in Mexico.) We found the front desk staff to be very friendly and helpful, although we really didn't need them for much. The outstanding part of our stay there was the breakfast! The usual suspects were there, but also a whole array of Mexican specialities that were expertly prepared. Aside from the homemade meals we enjoyed with my Mexican 'family', the breakfast here was the best of our trip (we also spent a week in Manzanillo at Las Hadas).
The hotel is located near the third 'periferico' and is very close to the mall as well as the bus station. Colima is a small city, so the old downtown is not far away by car either.
This review is the subjective opinion of a TripAdvisor member and not of TripAdvisor LLC