Indogulf: During the years I worked for a Munich-based company, our top executives stayed at the Bayerische Hof and were very happy there. It's well located in Munich Center. Rated as one of the top hotels in town. They used to have a wonderful chocolate shop by the entrance that sold the most wonderful cookies! Don't know if it's still there, but a stop at that shop was always a must for me each trip to Munich.
The rest of us got to stay at the Hotel Prinzregent, which is not nearly as elegant but is in fact very nice. It's a much smaller hotel than the other ones mentioned in this thread. First rate service there. It was a lot less expensive than the Marriott or Hilton in those days. It's not in downtown, about a 15 minute U-bahn or cab ride from Central Munich, but situated in a nice neighborhood.
I'm sure the Marriott and Hilton are both just fine, but if you want to try something quite nice and a little more authentically Bavarian, you might want to give the Prinzregent or the Bayerishe Hof (if it's in your budget) a try.
[This message has been edited by dgolds (edited 08-24-1999).]