Located just one metro stop from the city center, the rustic old-world charm of Residencia Nazareth Hotel is exceptional, particularly considering the very low price. The vaulted ceilings on the 4th floor should be viewed, even if not staying there, due to the medieval styling of that particular part of the hotel. Free breakfast is included in the room rate, which is a rarity in a hotel that is this inexpensive. Nearby attractions are numerous and include Estufa Fria, Gulbenkian Museum (Museu Calouste Gulbenkian,) and a wide variety of shops and top-notch dining. Albeit expensive, the extremely Panorama restaurant has quite possibly the best food in town combined with an unbelievable view of the surrounding cityscape. Finding a lower-priced hotel that is still quality might not just be difficult, it may be impossible.

Residencia Nazareth Hotel - Lisbon classifies itself as a 3 star hotel.
N.B. Please note that the star ratings are interpreted generously by the hotels in many countries