“Excellent quality for a surprisingly good price”
The decor of the rooms hasn't been touched the 1970s, so I was a bit leery. And they have the typical problem of Brazilian hotels of stiff mattresses, but on the plus side they had wireless in the rooms (72 hours for 6 dollars), and balconies on every room I could see (which wasn't mentioned on Expedia, so a nice surprise). But you're not in Iguassu for the hotel - you're there for the Falls. Still, the restaurant is good and the complimentary breakfast is a huge buffet of hot and cold foods, fresh juices, etc. (no sawdusty muffins masquerading as a continental breakfast here). The pool is large and clean. The staff are friendly, and the ones at reception speak excellent English.
Perhaps most importantly, though, the tour operator (Louturismo) who sells packages (shuttles to the Brazilian and Argentine Falls, helicopter rides, boat trips, etc.) in the lobby is a really good and reliable operator. Vinicius was the rep and he was very helpful and friendly (which is probably why I still remember his name.) Every hotel has one of these companies, but other tourists complained endlessly about the ones in their hotels. Their guides didn't even try to speak English or were unprofessional, tardy, or rude. I had wonderful experiences with every guide I had through Louturismo. They made everything about this trip memorable and took all of the hassle out sightseeing. If I go back again, I will definitely stay at Hotel Rafain.