RADICALLY EDITED
I have gotten a few messages from people planning summer trips. Mostly asking about hotels and this list got mentioned. So I updated It to summer rates.
The booking dates that I checked were 15 – 19 July (4 nights, one being Friday when the rates often tend to be higher) . These prices are almost a worst-case scenario as they are for two adults in one room, and they include breakfast which raises the cost of the room by 20 to 60 euro per night and they provide free cancellation up to a few days prior which adds 10% to 15% to the price of the room. I am not recommending any of these, I just think they are ideally located for a first visit to Budapest.
Three Star
ibis Budapest Heroes Square (4.2) = 91€ / night https://all.accor.com/a/en.html
Medosz Hotel Budapest (4.2) = 63€ / night https://medoshotel.hu/
Four Star
Mirage Medic Hotel (4.4) (Wellness hotel) = 119€ / night https://miragemedichotel.hu/
Eurostars Ambassador (4.7) = 132€ / night https://www.eurostarshotels.co.uk/
Hotel Andrassy (4.5) = 133€ / night https://www.mamaisonandrassy.com/en/
UpHotel (4.7) = 150€ / night https://uphotelbudapest.com/
Hotel Oktogon (4.8) = 150€ / night https://hoteloktogon.hu/home
Casati Hotel (4.8) (Adults only hotel) = 156€ / night https://www.casatibudapesthotel.com/ This one I would avoid until all of the construction in the area is complete
Alice Hotel (4.8) = 163€ / night https://alicehotel.hu/hu/fooldal/
K+K Hotel (4.3) = 168€ / night https://www.kkhotels.com/
Cortile Hotel (4.8) (Adults only) = 172€ / night https://cortilebudapesthotel.com/
Hotel Moments (4.8) = 177€ / night https://hotelmomentsbudapest.hu/
Residence Izabella (4.6) (Apartment hotel) = 181€ / night https://www.mamaisonizabella.com
Five Star
Budapest has a pretty wide selection of opulent five star hotels. Most with fascinating histories. I just concentrated on a few that were close to Andrassy ut as I think it’s the best location for a first-time visit. But for return visits there are all sorts of options.
Corinthia Hotel (4.7) (6 minute walk to Andrássy út = 257€ / night https://www.corinthia.com/
Queen’s Court Hotel (4.2) (Apartments available / 6 minute walk & tram to Andrássy út) = 263€ / night https://queenscourthotelbudapest.com/
W Budapest (4.7) = 392€ / night https://www.marriott.com/ NO BREAKFAST
A few others, not terribly convenient to tourism, but remarkable hotels.
Mystery Hotel: https://www.mysteryhotelbudapest.com/
Matild Palace: https://www.marriott.com/en-us/hotels/budlc-matild-palace-a-luxury-collection-hotel-budapest/overview/?scid=f2ae0541-1279-4f24-b197-a979c79310b0
Párisi Udvar Hotel: https://www.hyatt.com/en-US/hotel/hungary/parisi-udvar-hotel/budub?src=corp_lclb_google_seo_budub&%3Futm_source=google&utm_medium=organic&utm_campaign=lmr