On our recent trip to Melbourne we stayed at the Jasper Hotel in Elizabeth Street. It's right at the top end, next to the Victoria Markets which was handy for a quick snack in the food hall. The tram drops you almost at the front door and can take you all over the city inexpensively – love those trams.
Jasper was well priced on the internet and was exactly what we expected. Neat, stylishly decorated, well-fitted rooms. The surprise here was the spacious bathroom and large bath which was great for a soak after walking the town – sore feet. :(
Bottom line – Would definitely stay here again and recommend it to others if price was right. Staff were very helpful printing tickets for shows. Clean and close to everything.