Ace, this one is for you!
I found a place called Peter's House at Alona Beach, Panglao island for 450php per night without aircon.
At about 45 pesos a dollar, that works out to be $10 a night. They do have a room upgrade with aircon too.
Tel. 5029056, Fax: 5029107. Playa Blanca, Alona Beach, Tel. 5029015
