Monaco is really short of budget hotels. I stayed here for 1 night only, after having spent a night at an alternate property.

Hotel Versailles is on a street near "the Rock" (where the Palace and old town are), the train station, and the main port. It's a 15-20 minute walk to the Casino (where the luxury hotels are all clustered). There's a little square just around the corner from the hotel with a cafe with outdoor tables, a morning fruit and vegetable market, and a lovely little bakery on Rue Grimaldi near the square.

The front rooms look out over a street that does have some traffic, but the back rooms (where I slept) were very quiet.

The room itself was very clean, with two single beds which were ok quality (not the best bed ever, but certainly not uncomfortable), lots of closet space, and a small table and desk chair. It was on the top floor so the window was quite small, but the bonus was it was high enough to get a nice view of the port.

The room was 100 euros for one person, without breakfast, and would have been 130 for two (All the hotels in Monaco are really expensive, and this is one of the cheapest), so it's not a good value compared to what you'd get in Nice, but if you want to stay in Monaco itself and can't swing the 600 - 800 euros for one of the 4 or 5 star hotels, it's a good bet.