I'm not sure what constitutes a splurge to you, but in Vienna the Palais Hansen is very nice, as is the Park Hyatt. Sacher is old-world and full of picture-takers in the lobby. The Hilton on Schottenring is very good value I find. In Munich the Mandarin Oriental is great, as are the newly refurbished rooms in the Vier Jahreszeiten. The Bayerischer Hof is 'iconic', but has some small rooms. I'm personally not a fan of the Charles, though others love it. Platzl and Hotel and der Oper are good 'budget' options right in the old centre.