We have 6 places to stay in and around Phayao.
Although few foreign visitors make it to this small town, Thais come from as far away as Bangkok for weekend visits and so there is a wide range of accommodation with some very good options in budget, mid and upper mid ranges. Correspondingly that means that prices can fluctuate considerably between high season – winter months - and low, but also between week days and weekends/public holidays. Storm clouds over the lake can provide some very photogenic views so we wouldn’t worry about the season much, but if you can time your visit for mid week you should find some excellent deals.
Smaller guesthouses and boutique inns are found on or close to the waterfront. Some of those with the more prime locations may have somewhat inflated prices but there are also some excellent hotel deals in the centre or town where you’re only a five minute walk from the lake anyway. Note the local fashion is for ‘homestay’ which you’ll see on plenty of hotel signs but they are just guesthouses, or bed and breakfast type lodgings, and not what are generally known as homestays.
There are quite a few of these ‘homestay’ type spots in the quiet back lanes behind Chai Kwan and off Prasat and Tha Kwan Roads with more on the way, but Jumjai and Kwan Phayao Villa got our votes, while away from the lake, the excellent Win Hotel in town, is simply one of our favourite hotels in any north Thai town. Note that many of the small lakeside guesthouses have limited rooms with views and not only will those be invariably more expensive but they also fill up first, with the remainder of the rooms being poor value when compared to an off-the-lake option.