Lisboa Tejo Hotel gets decent reviews. It's located downtown. Breakfast included. No fitness center (I don't think many of them do, unless you go to an American chain further from downtown, like the Holiday Inn). No in room wifi, but they have wifi in the common areas $130/night.
We could stay at Albergaria Insulana for about $80/night. Reviews basically say it's no frills, but the rooms are clean, the beds are comfy, it's a great location, and it's cheap. Wifi available in the 24-hour bar. No fitness center.
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