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The 7 Best Cheap Hotels in Mykonos

Ano Myli, upper Mill Hill, Mykonos, Greece.
Ano Myli, upper Mill Hill, Mykonos, Greece. | © Joana Kruse / Alamy Stock Photo
‘Mykonos’ and ‘cheap’ don’t quite go hand in hand. Nevertheless, there is a good selection of affordable places to stay, often without having to comprise too much on location or facilities. Where the Mykonos hospitality scene shines is in the smaller affordable hotels that swap grand design for unique details without compromising on experience. If you want to head to the party island without spending a fortune, here are the best cheap Mykonos hotels.

Olia Hotel, Mykonos

Boutique Hotel
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Guest room in Hotel Olia in Mykonos
Guest room in Hotel Olia in Mykonos | © Hotel Olia / Hotels.com
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Offering sea views and a fabulous swimming pool, Olia Hotel brings the best of Aegean living to guests. Five minutes from Mykonos town by bus, this is the perfect place for making the most of the whole island. Traditional Mykonos design and minimalist furnishings bring a classic, laid-back vibe, while the restaurant serves delicious local plates made from fresh ingredients on the island.
Hotel Amenities
Free Wifi
Restaurant
Bar
Swimming pool
Airport transfers
Crib
Childcare
Non smoking
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Yiannaki Hotel, Mykonos

Boutique Hotel, Independent Hotel
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Yiannaki Hotel, Mykonos
Yiannaki Hotel, Mykonos | © Yiannaki Hotel / Hotels.com
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Situated between some of the island’s most famous beaches, Yiannaki Hotel in Mykonos is a boutique destination for lovers of classic Greek aesthetics. Built according to traditional Cycladic design, the hotel stands out among others, with its brilliantly blue shutters and generously sized pool, built into a beautiful stone terrace. Rooms come with ornate marble bathrooms and are brightly furnished, while the poolside restaurant and bar is the perfect place to start your evening.
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Terra Maltese Natural Retreat

Boutique Hotel
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407A
Terra Maltese Natural Retreat in Mykonos | © Terra Maltese Natural Retreat
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Terra Maltese Natural Retreat is a treasure on Mykonos. Decorated in earthy tones, the hotel’s environment is soothing and relaxed, the ultimate antidote to the wildness of the beach clubs and bustle of the town. Located behind Ftelia Beach, guests can roam the island easily, and the main town is only a 10-minute drive from the hotel. Breakfasts are simple, traditional and made from local ingredients. Every room comes with sea views, but they’re best enjoyed with a drink on the terrace.
Hotel Amenities
Free Wifi
Restaurant
Bar
Swimming pool
Spa
Hot tub
Pet Friendly
Airport transfers
Non smoking
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Anagram Boutique Hotel, Mykonos

Boutique Hotel
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Anagram Boutique Hotel, Mykonos.
Anagram Boutique Hotel, Mykonos. | © Anagram Boutique Hotel / Hotels.com
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Classic, simple decoration and a friendly atmosphere make Anagram Boutique Hotel a dreamy and affordable alternative to the luxury hotels across Mykonos. The rooms are minimal and modern with some design flourishes that add a bohemian touch. Located in the main town, the hotel is within easy walking distance of the island’s most popular clubs, bars and the iconic Mykonos windmills.
Hotel Amenities
Free Wifi
Non smoking
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Ftelia Bay Boutique Hotel Mykonos

Boutique Hotel
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Guest room in Ftelia Bay Boutique Hotel
Guest room in Ftelia Bay Boutique Hotel | © Ftelia Bay Boutique Hotel / Hotels.com
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Offering modern, minimalist interiors that pay homage to traditional Cycladic design, Ftelia Bay Boutique Hotel Mykonos is a sophisticated spot in easy reach of Ftelia Beach and the renowned Alemagou beach bar. Guests can enjoy lazy mornings around the small pool, perfect for early morning dips to wake yourself up. If you’re looking for pampering over partying there’s a boutique spa at the hotel too.
Hotel Amenities
Free Wifi
Restaurant
Bar
Swimming pool
Spa
Gym
Airport transfers
Childcare
Non smoking
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Zephyros Mykonos

Boutique Hotel
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Zephyros Mykonos
Zephyros Mykonos | © Zephyros Mykonos
Zephyros Mykonos is a name to know if you’re looking for an affordable place close to Paraga beach – a legendary destination home to the popular Kalua beach bar. The hotel itself is vibrant and lively with furnishings to match. Big palm trees and luxurious cabanas line the pool. Rooms are electric with a retro feel. A hearty buffet breakfast is served on the terrace and the staff are friendly and polite. While it’s likely you’ll spend most of your time on Paraga beach should you want to explore the island the hotel is only a short drive away from the Mykonos windmills and main town.
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Hotel Alkyon, Mykonos

Boutique Hotel, Independent Hotel
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Hotel Alkyon, Mykonos
Hotel Alkyon, Mykonos | © Hotel Alkyon / Hotels.com
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This family-run hotel in Mykonos has all the comforts of home, and the atmosphere too. The interiors are classic and warm with ornate pieces of furniture while outside the terrace offers picturesque views of the town below. Service is attentive and friendly, whether you’re lounging by the pool or looking for a good place to go in the evening. Rooms are cosily furnished and offer serene sea views – there’s nothing like watching the sun set from the comfort of your own room.
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