The Peninsula was just rated the #1 hotel in the world by Travel & Leisure. After that, the top hotels include the Oriental, Shangri-La, and Regent. Some other favorites of people are the Conrad, Sheraton Grand Sukhumvit, Westin Grand Sukhumvit, JW Marriott, Banyan Tree, and the Hyatt Erawan. I am headed to Bangkok in a couple of weeks and scored a room at the Shangri-La on priceline for $55. It used to be the only riverside 5* so you knew you had to win it when you bid. However, Banyan Tree has now started selling via priceline in this same category and area so you can end up there when you bid too. Its an all-suite hotel and it supposed to fantastic as well. Other than that, you can get rooms for around $100 at the Conrad, which is less than a year old. I am staying there as well, supposed to be very modern thai and great too, and has one of most popular bars in town. Oh, and an outpost of London's Metropolitan hotel just opened in Bangkok last month, also supposed to be fantastic and very fasionable.