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For budget rooms smack dab in the heart of Bellagio's historic center, the aptly named Centrale is an ideal choice. This unpretentious 1922 property has updated rooms with traditional and simple furnishings, and even though some are a bit cramped, rustic touches such as exposed wooden beams add to the sense of low-key Italian charm. All the rooms have smallish en-suite bathrooms with showers. None of the rooms has views of Lake Como, but the hotel sits just a few hundred feet from the shore, and there are partial lake views from a pleasant communal terrace, where the modest breakfast buffet is served in good weather. Hotel staff is warm and friendly.