A mid-range, budget-friendly hotel in the Old Town, the 112-room Premier Inn Edinburgh City Central (Lauriston Place) Hotel is conveniently located about a 15-minute walk from Edinburgh Castle, St Giles' Cathedral, and the University of Edinburgh. With simple and modern decor, the hotel keeps up with the Premier Inn brand, and guest rooms feature basic amenities like free Wi-Fi, flat-screen TVs, air-conditioning, electric kettles, and en-suite bathrooms. There's an on-site restaurant serving basic British fare, including a full buffet breakfast (for a fee). Room rates are budget friendly, however if travelers are looking for somewhere closer to central Old Town, they might check out the Premier Inn Edinburgh City Centre Princes Street for similar rates and features.

Nestled in a slate-gray Victorian building with green window frames and a distinctive turreted roof, Budget Backpackers is very popular with frugal travelers thanks in part to its funky, freewheeling decor. Located in the center of Old Town, near pubs, shops, and well-known sights, the hip hostel is only a stone's throw from Edinburgh Castle and a short hike from the Waverley rail station. With a hip lounge space, a spacious common kitchen, and more than 250 beds, this property is a great fit for young travelers seeking accommodations. For another budget property with loads of character, guests could try the nearby Castle Rock Hostel.

Set overlooking the Water of Leith, the 178-room Britannia is a budget hotel with some of the lowest rates in central Edinburgh. Though not in the heart of the action, this property is about a 15-minute walk from Princes Street and other attractions in the New Town, and the Scottish National Gallery of Modern Art is right across the street. The restaurant serves a tasty, varied breakfast every morning, but most guests seem to find buffet dinners lacking in terms of quality and variety. Rooms feature free Wi-Fi, electric kettles, hairdryers, and small flat-screen TVs, but many have maintenance and cleanliness issues. Additionally, some rooms lack windows. In this price range, the Piries Hotel has an overall higher value, as it's in better shape and closer to restaurants and shops. 

Set in three Victorian townhouses, the 49-room, upscale Bonham is a stylish boutique hotel in a quiet, historic Edinburgh neighborhood, around the corner from all the action. The property manages to combine Georgian architecture, an old Edinburgh vibe, a well-curated modern art collection, and glam decor to create a one-of-a-kind environment far more luxurious than the price would indicate. Guest rooms are individually designed and decorated, with striking furniture, high ceilings, ornate woodwork, and gorgeous bathrooms. The hotel also serves full Scottish breakfast with local ingredients, and has an elegant restaurant and bar serving afternoon tea. 

The Scotsman is an upscale historic boutique located right off the Royal Mile, in the heart of the Old Town. The building is a former printing house, and many of the original features are preserved, including an Italian marble staircase, ornate ceilings, and oak paneling. Luxurious amenities include a relaxing spa complete with an indoor pool, a large fitness center with classes and personal trainers, and a wonderful brasserie. But the individually decorated rooms have inconsistent quality and decor -- while some have beautiful wood paneling, ornamental fireplaces, and great city views, others have blander furnishings and lack wow factor. However, they all have luxurious amenities, such as Egyptian cotton linens, Highland Aromatic toiletries, and flat-screen TVs.

The 188-room grand railway Balmoral Hotel has been a part of Edinburgh's skyline since 1902 (courtesy of its famous clock tower, which runs three minutes fast to ensure guests never miss their trains). The large, majestic luxury hotel has a range of rooms, from compact, comfortable Classic Rooms to large multi-room suites. The five restaurants, including one with a Michelin star, and bars offer a wealth of choices, and include a brassiere, a tea court, a lounge, and a Scotch bar. Packages can be purchased, but generally expect to pay for the extras here.

Located right on Edinburgh’s most popular shopping street, the 97-room, three-pearl Premier Inn Edinburgh City Centre (Princes Street) Hotel is a great value option within walking distance of all major attractions and Waverley Railway Station. Rooms are generic but comfortable, with quality mattresses, electric kettles, free Wi-Fi, and Freeview TV, plus 22 of them offer stunning panoramic views of Edinburgh Castle. Thyme serves continental and full Scottish breakfast for a fee, as well as a tasty international menu for dinner, and a few snacks and drinks. Travelers seeking something with more character in this price range may want to compare rates at the Ibis Edinburgh Centre South Bridge, which is also centrally located and has a solid restaurant. 

Housed in a grand 19th-century building, the upper-middle-range Princes Street Suites has an ideal location in the New Town, within walking distance of all of the city’s top sights and Waverley Station. Its 37 apartments are spacious and elegant, and come with all the conveniences of a private home -- including fully equipped kitchens, washer/dryers, living areas with dining tables, and air-conditioning -- plus hotel services such as daily housekeeping and a 24-hour reception. A pleasant rooftop deck is all there is in the way of common spaces, but it has some of the best views in town. Travelers on a tighter budget may want to compare rates at the Holyrood apartHOTEL. 

The nine-room upscale Fraoch House is a quirky Victorian bed-and-breakfast on a quiet, timeless side street off Leith Walk -- Edinburgh’s longest street, lined with bars, restaurants, and shops. Each spacious guest room is individually decorated with comfort, style, and Victorian character coupled with a 21st-century sense of humor. Seven rooms have bathrooms en suite, and two have private bathrooms in the hallway, but all are spotless, up-to-date, and luxurious. The inn's homemade Scottish breakfast is scrumptious and plentiful. Travelers looking for a Victorian character closer to the city center could try the Witchery by the Castle.

The 28-room Nira Caledonia is a seriously upscale boutique occupying a charming 18th-century property in Edinburgh's New Town. While the cobbled street setting is particularly charming and close to local amenities, it's not really within walking distance of most popular tourist attractions. The rooms however are particularly gorgeous and full of high-end touches including Nespresso machines, huge flat-screen TVs, and luxe bathrooms, some with Japanese-style jetted soaking tubs. While it lacks some of the facilities you might expect at this price, an outstanding breakfast and top-notch dining contribute to making this one of the finest properties of its kind in Edinburgh. Wi-Fi is free.