The Old Town is about twelve blocks of colonial houses, and almost every one of them is now either an apartment you can rent or a small hotel. From the street you often can't tell which is which. That's why this question gets asked so much, and why the usual answer ("Airbnb is cheaper") is lazy.
Here's the honest version. Airbnb wins on space and on stays longer than about five nights. Small hotels win on arrival, on breakfast, on air conditioning that someone else fixes, and on the fact that a rooftop is included instead of being a place you have to go find at 6pm every day. Cost per night is close enough in the walled city that it shouldn't be the deciding factor.
What actually decides it is your trip. Four adults, a week, cooking a couple of nights, wanting a living room to sit in: rent an apartment. Two of you, three or four nights, out most of the day, wanting the drink and the swim to be upstairs rather than across town: stay in a small hotel. That's us. We're an art hotel, but not the stuffy, silent, white-walls kind, so if you want quiet and colonial hush, we're probably not your spot either.
One thing nobody mentions until it happens: Colombian law means every guest has to be registered at check-in with a national passport or Colombian ID card, the real document, not a photo. That applies to us and it isn't optional, so if your plan involves adding a friend to the room later in the week, plan differently.
When to book an apartment
Book the apartment if there are more than three of you, if you're staying five nights or more, or if a kitchen changes the maths on your food budget. Cartagena eats late and eats out, but a family with small children will use a kitchen every single morning, and no hotel breakfast solves the 6am wake-up the way your own fridge does. You'll also get more square metres for your money inside the walls, because the buildings are old and big and the rooms in them are enormous.
The trade is logistics. You collect keys from someone who may or may not be on time, the air conditioning is whatever it is, and if the water pressure dies on a Sunday you're on WhatsApp with a host who's at the beach.
When to book a small hotel
Book the hotel if the trip is short, if you're two people, or if you want the day to end without a taxi. Breakfast is included for anyone who books directly with us, so the first hour of the day is already solved. Our rooftop is open until midnight and Members Only kicks off around 9 on Friday and Saturday, which means the last part of the night is a staircase rather than a ride home. Locals get 15% off up here too, so expect real company at sunset.
The honest trade: we have ten rooms, so we sell out, and we can't hold dates without a deposit. And the rooftop gets loud after dark. That's the point of it, but if you're a light sleeper, say so when you book. You can ask for a quieter room in the special requests field and we'll do what we can.
What it costs to arrive, either way
Getting in from Rafael Núñez costs the same whoever you booked with, so it's a fair thing to compare. Our airport transfer is 120,000 COP for up to four passengers, or 200,000 COP for five or more, arranged before you land. An apartment host may or may not offer one. If you're driving, note that the walled city is not a place you want a car: we can help reserve a spot at a nearby garage for €15 per night, which is the sort of thing that's simply your own problem in a rental.
The part people get wrong about price
Compare the total, not the nightly rate. Add cleaning fees, service fees and breakfast for the number of people you're travelling with, then compare. If you find a lower rate for us on an OTA like Agoda, we'll match it when you book direct, so there's no penalty for booking with us straight. Add a late departure too if you have an evening flight: check-out is noon, and a late checkout with us is 100,000 pesos, which is usually cheaper than a day room anywhere.