Catering to flashpackers (backpackers with bigger budgets) and millennials looking for simple lodging, the Space Hotel fills the void between a modern hostel and a mid-range property with its contemporary communal spaces and shared dorms. There are private rooms too, some with en-suite bathrooms, though most guests share communal facilities on each floor. The rooftop terrace has the bonus of an outdoor hot tub, while a movie room and restaurant-style guest kitchen add value for any budget traveler. But the fee for Wi-Fi will surprise the target demographic. 

The Alto Hotel is housed in a 19th-century building and offers 50 rooms and apartment-style units. Room decor is bland -- aside from black and white photographs on the walls. Beds were replaced in 2012 with pillow-top mattresses, white duvets and Florence Broadhurst patterned bed runners and throw pillows. The furniture is utilitarian -- but all are clean and feature flat-screen TVs with wireless capabilities, iPod docks, and free Wi-Fi. Plus, Studio Apartments have kitchenettes, while Apartments feature full kitchens. The hotel's real claim to fame is that it's the first carbon neutral hotel in Australia. Green-friendly perks include free parking for guests with electric or hybrid cars, free car recharging, and rooftop beehives. The hotel doesn't have many on-site amenities aside from a lounge and a simple restaurant -- there is no pool, spa, or fitness center -- but guests get free access to a nearby gym and the location is convenient for seeing the sights.

As part of the popular Citadines chain, The Citadines on Bourke has modern apartments that offer privacy with the convenience of a hotel. It’s in the heart of the Central Business District located on Bourke Street, one of Melbourne’s most well-known streets. The close proximity to the Parliament House and Old Treasury Building makes it ideal for business travelers. The Bourke Street Mall is also nearby for shopping and restaurants that appeal to both families and couples. A fitness center, indoor pool, sauna and outdoor sundeck are also on-site. Wi-Fi is free, but can have a spotty connection.

The 206-room Melbourne Parkview Hotel is a solid upper-middle-range option south of Melbourne's city center. The hotel overlooks Albert Park, but reaching most sights will require a drive. Room decor is contemporary if chain-like: It's a step above what one might find at a Holiday Inn, and includes with red striped bedding accents, IKEA-esque furniture, and work desks. Modern bathrooms have big walk-in showers with rainfall showerheads. All rooms have swivel flat-screen TVs with laptop hookups that are inset in the entertainment units, as well as free Wi-Fi. Hotel features include a small fitness center with floor-to-ceiling windows and city views; a jetted rooftop plunge pool and Jacuzzi under a domed glass ceiling, a sauna, and laundry facilities -- all adding to its value.

The Radisson on Flagstaff Gardens is a simple, upscale hotel by a pretty public park in the northwestern corner of the Central Business District. Spacious rooms have understated modern decor and free Wi-Fi, but only Premium rooms and above come with French presses, iPod docks, and bathrobes. A well-regarded restaurant and decent fitness facilities add to the hotel's appeal. Its quiet location contributes to a peaceful atmosphere, although it is a bit removed from area attractions. 

The hostel-style lodgings at the Hotel Claremont are geared toward travelers on a budget. Dorm-style rooms, some with bunk beds, and communal bathrooms are kept clean. The hotel, originally built in 1886 as a Victorian guest house, is located in Melbourne’s popular South Yarra neighborhood, home to shops, restaurants, and bars. Public transportation and Melbourne’s famous attractions are both easily accessible.  Wi-Fi and continental breakfast are free.  

The pocketbook-friendly Miami Hotel Melbourne is suited for travelers on a budget or small groups. Its location in the entertainment district is convenient to boutiques, restaurants, and bars, and its in walking distance of famous attractions including Flagstaff Gardens and Queen Victoria Market. The clean and simple rooms have flat-screen TVs and private bathrooms. There are also free Wi-Fi, a self-catering kitchen, and coin-operated laundry facilities. The on-site JT's VICE Coffee Bar serves breakfast and snacks. 

The Tune Hotel Melbourne is a budget chain hotel on the fringe of Melbourne’s CBD, a 12-minute walk from Melbourne Central Railway Station and Melbourne Central shopping complex. This limited service property offers guests a place to rest their head and grab a shower but beyond that everything, even towels, comes at a cost. There are 225 contemporary rooms in total, done up in a red, white, and black color palette. Hotel parking is available for a nightly fee and the hotel cafe is open for guests from early morning till mid-afternoon. It's worth noting that pre-booking add-on services will bring down the cost, so plan ahead if you want Wi-Fi and toiletries.