If you want to experience St. Petersburg on a czar-size budget, then the Grand Hotel Europe is for you. With a prime Nevsky Prospekt address and a roster of famous guests (composer Pyotr Tchaikovsky, ballerina Anna Pavlova and President Bill Clinton, to name a few), the Grand Hotel deserves its place on the travel glossies' top lists. Even if your wallet doesn't permit a stay, stop in the lobby bar for a drink and people watching (and maybe a smidge of caviar).

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St. Petersburg Travel Guide