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Place to stay in Innsbruck

Anyone have a suggestion for a hostel or cheap hotel in Innsbruck, Austria? There are four of us going and we'd like to stay somewhere safe, but easy on the wallet. Let me know! Thank you!

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I stayed at Hotel Gardi Menghini and was quite satisfied. it's not in the city centre but bus transportation is easy and close by( although you can walk to the city centre in 20 mins or so )...good rates, clean, quiet, nice continental breakfast...