There are many hotels within walking or short taxi ride to the Malecon, and of varying prices. The cheapest, and yet clean safe, but local sstyle, is the Indio. 300rd a night, four blocks to the malecon , two blocks west of Caribe Tours terminal. Another that used to be an upper end whorehouse but has been redone and is quite nice and respectable is Mountainview, est of Caribe tours up the hill five blocks. Price should be about 75US night. Very nice. Any taxi will know Mountainview. The Indio is local knowledge only. I'd stay at Indio if you can get a room.