A traveller-oriented budget hotel, the Panchavati is run by ever-helpful, switched-on management who understand travellers’ needs. Rooms are compact but thoughtfully appointed, with crown moulding, comfortable beds (with paisley-style bedspreads), thick bath towels and newly renovated bathrooms. There are two decent restaurants and a 'bar' (read: drinking room) and it’s a great place to hook up with fellow travellers.
Also home to the ever-reliable Ashoka Tours & Travels, which offers trips to Ellora and Ajanta, and there's a great tea stall right outside its door.