Built in 1858 as a private residence for the López family, and transformed into a hospital during the War of the Triple Alliance, this beaux arts–style hotel is now a national landmark. It's certainly charming, though a few of the rooms with balconies are noisy. Others are quite nice and peaceful; ask to see one before taking it. All are simply furnished, but this is a good budget option.
Colón 415, at Estrella, Asunción, Paraguay