Good value hotel for a 5 night stay in Vernazza or Riomaggiore
As far as I know there are no real hotels, but more B&B type places or room rentals. I don't know what you consider to be a good value, and the price will depend on when you are going. In September I rented a studio apartment from Maria Capellini (Cozy Studio) in Vernazza for 85 euros per night.
If you specify what you mean by "good value" in terms of euros, you'll get better advice. Good luck.
I second the vote for Maria Capellini Rooms. There is one that requires some stair work (57 steps to the Cozy Studio where we stayed in October) and one on the ground floor they call the Charming Apartment. You won't find sweeter people than Maria and Giacomo. Most places have lots of stairs, and as noted above most are rooms, small apartments or B&Bs. We like having a studio apartment where we could hang clothes outside to dry. It had a small kitchen with a refrigerator, and we felt almost "local" for a few days. The Pirates (Il Pirata Restaurant) at the top of the town (Vernazza) also rent rooms that I heard were nice. Fewer stairs, I think, and they feed you breakfast in their excellent cafe.
Allen, As others have mentioned, there are no actual "Hotels" in either Vernazza or Riomaggiore. The lodgings in these areas tend to be small B&B's or "Affitacamere". The Guidebooks have listings in each of the C.T. villages. You might find it helpful to pack along a copy of the Italy 2011 Guidebook. You didn't specify what type of lodgings would be acceptable or whether you might consider one of the other villages? You could check THIS Agency in Riomaggiore, THIS B&B in Manarola, THIS Hotel (also Manarola) or THIS B&B in Vernazza. The best selection of "conventional" Hotels is in Monterosso (the most northerly town), which also has the best beach. Good luck and happy travels!
another vote for maria and the cozy studio, we loved it:):)
www.manuela-vernazza.com My daughter and I rented Manuela's 2 bedroom apt on 22 Via Gavino. Very nice, but no view, if that is important to you. The apt was very quiet. Another bonus Il Pirata restaurant and pastries is just about a block away. See trip advisor for reviews on both of
these properties.