In Caracas, there is a good selection of 5-star hotels, although these are predictably expensive. At tourist spots elsewhere in Venezuela, guest houses or B&Bs, known as posadas are usually the best option, each with an individual style and usually offering breakfast or dinner if requested. Posadas can vary enormously in price and quality. Youth hostels are very scarce.
Keep in mind that the beds in many hotels mostly up to the mid-range levels are nothing more than mattresses on concrete slabs that resemble box springs. Depending on what your sleep preference is, they may not be the most comfortable for you. Something for you to consider when looking for a hotel to stay at.