Beautifully situated close to the main falls, this nicely landscaped, professionally run, and very peaceful complex has 15 well-built cabañas with hot water and pleasant porches. The waterside restaurant serves meals (mains M$120 to M$170), but no alcohol, though you can bring your own. Lodging rates drop hugely in low season. We love cabin number 9, right by the cascades.
You can walk, swim (in calm conditions; be aware in rainy season the river swells), kayak and simply relax. It's one of the nicest options around.