We ate at a number of restaurants in Mérida over two or three days, even stopping at the Burger King (something we seldom do) for a quick hamburger when we were on a deadline one day. I am going to mention a couple by name.
We met a friend in Mérida, and decided to meet at the brunch buffet at the Hotel Villa Mercedes. It is an amazing brunch with everything one could desire. There were enough different dishes that I filled a dinner plate by taking one bite-size bit from each of the dishes. The other thing that made it pretty special the day we visited is that the hotel had a "two breakfasts for the price of one deal", so the price for the two of us as 180 pesos. Pretty reasonable – I would recommend the buffet, especially at two-for-one. Villa Mercedes seems to be a pretty elegant hotel (5 star by Mexican standards, probably less by USA standards). The hotel is about 10 long blocks north of the Grand Plaza downtown.
We had a VT meeting with Gatopardo (Zarahi) at the Café Peon Contreras in downtown Mérida. The most outstanding thing about this restaurant was it's location – on the plaza outside Parque de la Madre. They also had a couple of musicians playing in the background. As for the actual food, it was similar to that we had seen in prior restaurants – tasty, but not gourmet. The meal at Peon Contreras was pricey compared to the other places we tried in Mérida. The cost for two meals (including a couple of drinks) was 370 pesos; in most other restaurants we tried, this cost would be under 250 pesos.
We ate at a number of other restaurants. One of the pluses of this area of Mexico is that prices are quite reasonable. Most meals are well under 100 pesos ($10 US) per person. For the starch portion of our meals, we had to get used to tortillas instead of potatoes but the food was quite tasty.