I would like to book a western-style hotel for our first night in Tokyo (then moving onto a ryokan). My ideal would be the Peninsula (apparently right next to the Imperial Palace), but I am afraid the price is a little bit over the top for my budget. I was thinking Westin (SPG advantage) or Hilton which has much better reviews on Tripadvisor and costs less. Do you have any suggestions for a splurge-but-not-too-much hotel in Tokyo, ideally walking distance from the Imperial Palace ? Thanks !

How much the hotel around that area do you know? How much is your budget ? When are you going to check in ?
How long will you be in the area ?
I will check to my friends that know the area.

The Peninsula has some very good promotional rates that put it right in line with some of the other places. http://tokyo.peninsula.com/ptk/promotions.html Superior rooms for ¥42,000 and deluxe for ¥47,000. That's the same price I see for the Hilton, but the Peninsula rooms are almost double the size (superior 51 m2, deluxe 54 m2 at the Peninsula, all rooms except suites are 30 m2 at the Hilton), the location is much better, and the Peninsula is just more hotel for your money. They also have rates with Virtuoso, which provide daily breakfast, ¥10,000 food and beverage credit per stay, and an upgrade upon arrival if available.

Also nearby the palace, the Palace Hotel...not cheap, and will close for refurbishment later this year, but right by the palace. I don't find it to be a good value compared with the Peninsula, but it is an option. Near Tokyo Station, the Marunouchi Hotel is quite nice...rooms are small and in house services are very limited, but nice. There is also a Metropolitan hotel beside Tokyo Station which is a JR hotel, opened last year, and looks OK.

Why do you want to be in walking distance of the Imperial Palace?

How about the Imperial Hotel. Just a short walk to the Palance. You could also take a short hop on the subway.

Westin is near Ebisu, which is not really a walking distance to the Imperial Palace. Neither is Hilton which is in Shinjuku.

Peninsula is probbly the closest, followed by Four Seasons (the one at Marunouchi, not Chinzanso).
Other choices are Palace Hotel and Imperial Hotel both very close to the Imperial Palace but I must say both hotels are seriously overdue for refurbishment.

Scheldekaai:

we loved the Park Hotel in the Shiodome complex, and near the Ginza, and fronting beautiful Hamarikyu Park...the Park Hotel begins on the buildings 25th floor...its reception area is breathtaking with views over the city and the Tokyo Tower....Fuji on a clear day. Should be less than $200.

stu t.

http://www.parkhoteltokyo.com/

Thanks for all your input. KimJapan, as usual, you were perfectly right. I've booked the Peninsula at the cheapest rate and I'm sure we'll enjoy it.
After the Peninsula, it is back to reality for us, as in a more low-profile ryokan called Yoshimitsu in Ginza. Has anyone been there ?

Yoshimizu looks quite nice, and if their website is any indication, they cater very well to foreigners. It should be a nice place to stay, and the price is pretty good for the apparent quality (just based on their pictures). They have another property in Kyoto as well.

Only thing I would recommend is to spend the extra for the bigger room, especially if you are sharing it between the two of you and not booking individual rooms. Their largest room is 8 tatami size, the same size as the room I am sitting in right now and the same size our our bedroom...not spacious, and if you have two people with luggage spread out, futon, table...very squeezy in a 6 mat room but ok in an 8 mat room. Or book two 6 mat rooms, one f or each of you for about the same cost, and you get some privacy.

Thanks KimJapan. I did book the 8-tatami room, glad that you confirm that was the right choice (I actually picked that room type because it has a private shower and toilet). I will be travelling with my mother, so privacy is not an issue... we live in two different countries for most of the year, so the idea is to be together.