Che Lagarto is a famous hostel chain that has multiple locations around Brazil. Their place in Ipanema is almost at the border between Ipanema and Leblon, located very close to the beach.

I have not been to Che Lagarto Ipanema but I have stayed in other locations and have always had a good experience. For us, Che Lagarto is a synonym for a good quality hostel and friendly people.

They offer shared and private rooms with different sizes and amenities. If you will be traveling on a budget, this could be one of the best hotel options to stay in Ipanema.