I really like Crown Metropol. From memory the three levels are Promenades is the cheapest. Metropol in the middle and Crown towers is the top one.
Grand Hotel Melbourne is just across the bridge from Crown and is very nice.
In my opinion no real point staying near Fed Square. There are a few restaurants there but not a lot else really.
Really depends what your budget is. Trams are cheap and easy so don't be afraid to stay somewhere like Kew or Richmond etc as it will save some money on the accommodation and it no big deal to tram it into the city.
Brendon
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