While the 1990s were the heyday for cheap rates in Prague, the medieval city is still a relatively inexpensive getaway as far as European destinations go. Even luxury hotels can have affordable prices, and there are numerous value-packed mid-range hotels and hostels to choose from as well. We rounded up the six best value hotels in Prague.

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1

Occidental Praha Five

Prague, Bohemia, Czech Republic

An upper-mid-range property in a convenient location (for business travelers), Barcelo Praha Five not only offers some of the lowest rates on this list, but it also includes one of the most extensive range of features. Considering its location, it's no surprise that the Barcelo offers several meeting rooms, and the hotel is also home to a fitness center and on-site parking, and in-room massages can be arranged. It lacks a full restaurant, and there's a fee (that can be quite high) for breakfast, but this property offers a great bang for your buck in Prague.

2

NH Prague City

Prague, Bohemia, Czech Republic

Rates at NH Prague are often a tad higher than those at the Barcelo, which is why it ranks second. But if offers many of the same facilities, like a fitness center, and also has a full restaurant. Rooms are equally sleek, and come with free Wi-Fi, flat-screen TVs, and lots of space. Some can get street noise, but all have high ceilings and large windows letting in plenty of natural light. 

3

Red And Blue Design Hotel

Prague, Bohemia, Czech Republic

The upper-mid-range Red and Blue Design Hotel has 52 sleek, stylish rooms, housed in an impressive early 20th-century building in Prague's Smíchov district. All come with pillow menus, air-conditioning, and free Wi-Fi, and some overlook Kinsky Gardens -- Prague's largest park -- which sits across the street. While the hotel lacks a fitness center and full restaurant (which the above two hotels do have), it does include a free breakfast in the room rates, adding to its value.

4

Hotel Ametyst Prague

Prague, Bohemia, Czech Republic

Common areas are a bit more bland here than those at Red and Blue Design Hotel, but rooms are similarly spacious and modern (with flat-screen TVs and free Wi-Fi), and Ametyst also offers an extensive free breakfast buffet and competitive rates. Some rooms even have balconies, and an on-site restaurant is popular among guests. It's a bit removed from the major tourist sights and some say the beds are a bit hard, but the front desk can arrange in-room massages and a lobby bar offers draft beers and cigars.

5

Hotel Majestic Plaza Prague

Prague, Bohemia, Czech Republic

This may be a Best Western, but the Premier Hotel Majestic Plaza is truly an upper-middle-range hotel where suites are particularly elegant. Its rates may be slightly above some of the others on this list, but they are still competitive -- and the property has one of the most tourist-friendly locations of them all; some rooms overlook Prague Castle. It lacks a fitness center, but it does have a small spa, on-site restaurant (where an extensive free breakfast is served), and terrace dining for the warmer months.

6

Hostel & Pension Downtown

Prague, Bohemia, Czech Republic

Not surprisingly (considering it is a hostel), rates at Hostel Downtown are about half those of other hotels on this list. Of course, there are reasons: rooms lack air-conditioning, there's no gym nor spa, and a small fee is required for breakfast. But there are still plenty of perks. Like the Best Western, Hostel Downtown is in a super convenient location for tourists, and on-site amenities include a well-equipped kitchen and free Wi-Fi. Room options range from those with en-suite bathrooms to dorm-style accommodations.