Ritzy Recoleta, Buenos Aires's equivalent of Mayfair, is hardly a place for bargain-hunting. Yet Art Hotel, set two blocks from stylish Avenida Santa Fé and a short stroll from Evita Peron's last resting place, represents astonishingly good value. The sturdy, six-floor edifice, erected in 1927 for well-to-do immigrant families, reopened in 2004 as a hotel dedicated to modern Argentine art. Displays in the gallery change monthly; a single work (which is available for purchase) hangs in each of the 35 rooms. Thirteen rooms are honestly described as 'small and cosy', but exposed brick ceilings and handsome wicker-and-iron furniture help make up for a shortage of space. Queen-size beds are found in 12 rooms, while a further five have king-sized beds, including some iron four-posters. Tango lessons are available, and all guests have access to a rooftop terrace with open-air Jacuzzi. Book rooms 12, 22, 32 and 42 for their four-poster beds and street-facing balconies.

Rates: From USD 62.00pn + tax