Centrally located near Madison Square Park, The Nomad (which shares its name with the surrounding neighborhood north of Madison Square Garden) is a luxurious, impeccably designed hotel with attentive service but limited features (there's no spa or business center). The hotel's focal point is its eponymous bar and restaurant, featuring five separate-but-connected spaces that sprawl along the ground floor. Guests can order cocktails in the cozy, book-lined Library or order brunch in the sun-filled Atrium room, though they should be prepared for price tags that match the high level of style. The 168 guest rooms are luxurious (Sferra linens; Frette towels and robes), and successfully invoke a bygone era with Persian rugs, old maps, and antique-looking fixtures. Hip travelers who are willing to sacrifice luxury (without sacrificing a popular scene) should consider the Ace Hotel just around the corner, which offers more amenities -- multiple bars, a popular coffee shop, and more common space in which to socialize -- at an often lower price.