Built in 1926 as a dorm for silent-film actors, the Crescent is now a sleek boutique hotel with a great location—within the Beverly Hills shopping triangle—and with an even better price. Low couches and tables, an indoor-outdoor fireplace, and shimmering candlelight at night give the hotel's public areas a welcoming and sophisticated look. Guest rooms are small, with custom headboards painted with large whimsical animals like hummingbirds and butterflies, as well as hanging blown-glass lights, sound machines, and splashy color schemes. Bathrooms are finished in concrete—utilitarian but also coolly cozy, and most have showers. High-tech amenities include flat-screen TVs, in-room iPods, and a library of the latest CDs and DVDs. Attention budget travelers: two itty-bitty rooms go for $99 a night if you call the hotel directly and they're available.