Thanks for the suggestions. Always helpful when planning a trip from so far away.

In terms of choosing between the Acropolis and Monastiraki areas, what are the major differences? With my limited knowledge, not sure what to base my decision on.

Both are fine for location in terms of sites, transport etc.
When you have researched hotels & find any in your budget just ask about the individual ones for clarification about their location as some search sites list Monastiraki as the area when they are technically in Omonia (which you don't particularly want)
If you are using any sites that allow you to reduce the selection to areas go for Plaka, Monastiraki, Makriganni, Koukaki, Acropolis, all these will get you an idea & we will help from there!

From both parts you have access to Plaka, which is located in the middle... Both parts of Athens are well connected to the metro ( Monastiraki : blue (the one that goes to the airport) and green line ( goes straight to Piraeus if you have to catch a boat), Acropolis red line.....
Both areas have a big choice of cafes and restaurants.
Monastiraki has mainly lower category hotels ( 2 and 3 stars) while Acropolis has 5 and 4 stars ( but also 3 stars).
Personally i prefer the Acropolis area for being less hectic, if such a place in the center of Athens exists....

www.intercontinental.com/athens We were able to get this hotel near the Acropolis by bidding on www.priveline.com The problem by bidding, one never knows what hotel you will get until after your credit card is charged. But we checked, district 1, five star and started bidding at $50 US. Secured the hotel at $80 US per night. So, if interested, go to 'name your own price', check district 1 and five star and start bidding.

That may be a very good price Iris -- but people should know that Intercontinental is not really "near the Acropolis" ... the walking distance for energetic walkers is 25-30 minutes, lengthy on a hot day. It is below the Koukaki and Makrigianni areas, just outside the Central Athens area. In its favor, the hotel does have a frequent free shuttle service (10-15 minutes to Syntagma Square), and does have an outdoor pool.

traveljam; You are right, but we walked from the hotel twice last week. We are energetic walkers and the 'price was right'. But as you know, if you are bidding on www.priceline.com you never know the hotel you buy into until after you pay. I was looking for price. If this poster so chose to use this site, it could be anywhere in district one. Luck of the draw. At the beginning of our trip. we stayed at the Marriott just down the street from the Intercontinental.

From Intercontinental or Marriott you can also take the troley bus or the normal bus and it only takes 10 min to Syntagma Square ( if not during rush hours. The Hotels are not that much out of the centre, you can reach in 10-15 min walking the metro station Fix . I would stay there immediately if i could book one of these hotels at the rate of 80 U$ per night

clauser; The Marriott Ledria cost us $143US per room for five rooms, booked on their site. I did book many months ahead.