I always prefer to stay as central as possible, but dont like to spend a fortune on hotels. If you give us your budget in £ we can try to help you find somewhere more central in your budget.

We stayed at the Premier Inn on Lauriston Place and it was just a short walk to the castle. Haymarket is I believe fairly central. Premier Inns are clean and basic, like a chain hotel in the US.

Haymarket is much closer to the city center whg=hcih is quite walkable form there,You van get an all day ticket for the buses fro £3.50 per day.
Edinburgh park is much further out but with reasonable bus a tain links.
In the Haymarket area there is a lot of Tram works going on and the place is a bit of a mess at the moment hopefully that will improve in the next few months,so depeding when you hope to visit you may or may not be affected by them

Thanks a lot. As per your suggestions, I have booked one in the center of the city (Motel One-Edinburgh), which appears to be a chain hotel, has got good rating at booking.com and is much closer to the Edinburgh railway station.
Thanks again,

I think it has just recently opened,I am not in the city center very often but I do remember that building being covered in scoffoldig for quite some time." minute walk from the train station,so ideal area.If you don't want breakfast in the hotel lots of places nearby ,Cockburn street that leads up to the Royal mile have quite a few cafes and even bars that open early for breakfast.

Apparently it opened New Years Eve or New Years Day so probably few if any Fodorites have stayed there yet. Be sure to report back on your stay - that is a great location if the hotel is any good.

(must be REALLY hectic opening an Edinburgh hotel on Hogmanay ! )