Here is a list of cheap hotels in Eilat:

-Youth Hostel – Derekh Haarava 7 – Tel: 086370088 – dorms: 100 sh, room: 220 sh
-Cactus B&B – Yelim Eilat – 0545948139
-Beit Haarava – Almogim 106 – 086374687 – dorms: 60 sh, room: 140 sh for 1 person, 240 sh for 3 people – nice place)
-Aviv Hostel – Almogim 126 – 086374660
-Siam – Coral Beach – 086370581
-Fawlty Towers Hostel – Simtat Ofarim 116 – 086325578
-Shelter Hostel – Eshel 149 – 086332868 (dorms: 60 sh)