I stayed at several places, here the list:
Hotel Buffet de La Gare. Very charming, lovely location and easy when hanging out late at the bar (Buffet). It has 4 single rooms, two twins and one suite, so not suitable for big groups. The bar is simply great, it could be Belgium in the late seventies, early eighties. Often fully booked, many people stay a long time. Perfect if you take the early morning Selam buses.
Queen Taitu: preferable for many reasons (except being rundown, but under renovation). This was the last place I stayed in, and next time I would not hesitate for a second. But the restaurant sucks, both in quality and prices. On top of that they tax the service charge. Also the rates have gone up, the basic rooms with not too clean shared bathrooms are 108 Birr, the ones with own bathroom are 180 Birr and the nicer ones 250 Birr. I upgraded myself for the last night and really enjoyed the comfort of the room. The rooms in the main building have varying rates, from 240 to 350 Birr. It’s hard to beat the location and the views on the hills south of Addis from the restaurant.
Baro: friends of mine stayed at the Baro, but left it because of the prostitute scene, didn’t check it myself, but that street has some of the worst touts around Piazza.
Mr Martens Cosy Place: A real backpacker place, nicely decorated and with all the backpacker facilities, but the location isn’t that good, quite a walking distance from the real city centre. On top of that some of the staff steals and then quickly distributes it among themselves. So don’t leave your toilet bag even for a minute unwatched in the common area. If you get angry enough, you will get it all back, coming from different places. Often fully booked.
Tel Aveve 2000: around the corner from Mr, Martens. Not recommendable and overpriced.
Ethio Comfort Guesthouse (not in the Bradt Guide), where I first stayed at, is hardly recommendable, it was far out, hard to get back at night (no taxi driver would know the place and for the price I had a room in town) and everything was triple the Ethiopian price. 25 euro/room + tax (non self contained)