Here are several well-reviewed, good-value hotels in Colombo that are generally “not too expensive” (options range from budget/hostel-style to comfortable mid‑range). I list neighborhood, what they’re good for, and a typical price bracket so you can pick by location and budget. I checked recent travel-site listings and local guides for current positioning and rates. (Makemytrip.com)

Budget / backpacker to economy (best if you want low cost)

• Clock Inn Colombo — Kollupitiya / Galle Road. Clean, simple dorms and private rooms; great for solo travellers and backpackers. Typical very low rates (dorms or basic doubles). (Makemytrip.com)
• Port View City Hotel — Bambalapitiya. Basic, convenient for beach and Galle Road; often among cheaper private-room options. (Makemytrip.com)
• The Ocean Colombo — close to Galle Face Green. Simple seaside location, good for sightseeing on a tight budget. (Makemytrip.com)

Smart budget / mid‑range (good balance of comfort, location, price)

• Cinnamon Red Colombo — Kollupitiya / Galle Face. “Lean-luxury” business hotel with modern rooms, rooftop facilities; good value versus full-service 5*. Typical mid‑budget rates. (brandradar.org)
• Marino Beach Colombo — seaside (Bambalapitiya/Kollupitiya). Midbudget hotel with sea views and decent facilities for the price. (brandradar.org)
• Colombo Court Hotel & Spa — well-located, comfortable rooms and small wellness facilities; often good mid‑range rates. (Makemytrip.com)

Mid-range with more facilities (still often reasonable)

• Cinnamon Lakeside Colombo — larger full‑service hotel with restaurants and pool; when on promotion it’s good value for the facilities. Best if you want more amenities but not top‑tier luxury. (brandradar.org)
• Jetwing Colombo Seven / Ramada by Wyndham (Colombo) — reliable chains that frequently run promotions; good for business travellers seeking consistency. (brandradar.org)

Quick tips to get the best price

• Compare aggregator sites (Booking, Kayak, Momondo) plus the hotel’s own site — sometimes the hotel’s direct rate or a promo gives the best value. (brandradar.org)
• If your dates are flexible, avoid peak season (roughly December–March and major local holidays) for much lower nightly rates. (brandradar.org)
• Look for “breakfast included” or refundable rates; the small premium can be worth it for convenience and flexibility. (brandradar.org)

If you want, I can:

• Narrow these to a single budget (for example under $40 / under $80 per night).
• Check live availability and give exact nightly rates for specific dates. (If you want live prices, please tell me your travel dates and whether you prefer private room or dorm.)