The phrase "5-star" can strike fear into any traveller’s wallet, immediately conjuring up images of butler services, hushed restaurants and, most importantly, an extremely pricey bill at the end. However, it really is possible to stay at a 5-star hotel for a 3-star price. We’ve tracked down some of the best value 5-star properties around the world, from city centre hotels in the middle of the action to boutique retreats right on the beach.

As one of Greece’s most popular spots, finding a hotel in Santorini can be tricky unless you’re willing to part with big bucks. However, the De Sol Hotel & Spa is surprisingly reasonable, with rates starting from just £105. Located a stone’s throw from the centre of Fira Town, the capital of Santorini, it’s ideally situated if you want to explore, but if lounging by the pool is what you’ve been dreaming of, it’s relaxing too.

The hotel has spa facilities, a gorgeous swimming pool with views of the east side of the island and a restaurant serving Mediterranean cuisine and local wines. It also has 38 luxury rooms and, if you can afford to splurge a little more, seven dreamy suites with private heated pools.

The Maldives are known for being extortionate, with some resorts costing hundreds of thousands of pounds just for a week’s stay. But it really is possible to find somewhere sublime for a reasonable price, with the Baa Atoll’s Royal Island Resort & Spa costing from just £85 a night.

Overlooking the Indian Ocean, the tropical resort offers the peaceful sandy beaches and glorious views you’d expect from the Maldives, as well as a host of activities including scuba diving, sunset cruises, water skiing and kite surfing. There’s also a pool, gym and tennis courts, beautiful beach villas, and several bars and restaurants to choose from.

Beginning life as a private mansion in the 1920s, the Majestic Malacca Hotel has had a colourful history, even hosting Malaysia's first prime minister when he announced the former British colony's independence in 1957. Malacca, once a small fishing village, is now a UNESCO World Heritage Site, with a fascinating history of trade and commerce.

Luckily, staying in this historic building is a bargain, with prices starting at just £98. Rooms are spacious and luxurious, with wooden floors, marble bathrooms and floor-to-ceiling windows, while elsewhere in the hotel, there’s an outdoor pool, a spa and a peaceful, quiet library.

Is it impossible to find a five star hotel in London without spending hundreds or even thousands of pounds? Surprisingly not: prices at the Grange Holborn Hotel, in London’s Bloomsbury, start from just £137 a night. 

A 15-minute walk from Kings Cross Station, Covent Garden and Leicester Square, the hotel is ideally located for exploring London, while there’s lots to do within its walls too, from enjoying the spa and gym to eating at one of four restaurants and bars, including a Japanese restaurant. Each room features hand-carved furniture, huge TVs, complimentary newspapers and marble bathrooms.

Bali, as in vogue as ever, can certainly be a pricey holiday destination, but not if you stay at the gorgeous Lembongan Beach Club & Resort on the island of Nusa Lembongan, where prices start from just £132. The beach hotel, set on Jungut Batu beach, is made up of 37 private villas designed with natural materials in a modern Balinese style, most of which have their own swimming pools.

There’s also an Instagram-perfect infinity pool overlooking the white-sand beach, a restaurant serving seasonal recipes, and plenty of activities to choose from, including scuba diving, snorkelling, fishing, stand-up paddleboarding and sea scootering.

Unlike many capital cities, it’s easy to nab a bargain at a beautiful hotel in Thailand’s capital Bangkok, and the Akyra Thonglor Bangkok is no exception, with rooms starting from just £84 a night. 

Originally a luxury apartment building, the hotel offers spacious rooms and suites with contemporary designs, a pool bar with sparkling city views and a fully-equipped, 24/7 fitness centre. It’s also ideally located to explore all that Bangkok has to offer, from enormous shopping centres filled with bargain buys to jaw-dropping Buddhist temples like Wat Arun.

Just like London, it can be tricky to find a reasonably priced five star hotel in Paris, but it can be done, with the Sofitel Paris La Défense taking the crown at a starting price of £181 a night. Located in the heart of Paris’s business district, it’s great not only for business travellers, but for tourists too, with sightseeing highlights like the Arc de Triomphe and the Champs-Élysées only a short walk away.

The 135 hotel rooms and 16 suites, designed by architect Jean-Philippe Nuel, are contemporary in style, with Bose sound systems, espresso makers and an Apple TV adding modern touches. Spacious bathrooms with rain showers and Hermes products are the icing on the cake.

Australia is famed for being expensive, but even in the heart of bustling Sydney, it’s possible to nab a 5-star hotel stay for under £200. Prices at the beautiful Shangri-La Hotel Sydney start from £197 a night, and are definitely worth it, especially when you consider its privileged views of the Sydney Opera House and the Harbour Bridge.

Within the hotel, there’s an elegant restaurant with incredible views of the harbour, a pampering spa and a luxurious indoor pool. The 565 rooms and suites are decorated in a contemporary style with marble bathrooms and smart furniture, but most importantly, all of them have those coveted views of Sydney to wake up to in the morning.

Similar to its Bangkok counterpart, the Akyra Beach Club Phuket is surprisingly affordable when you consider that the 5-star resort is moments away from the beautiful beaches of Phuket. Starting from just £89 a night, accommodation options range from garden rooms to two-bedroom beachfront pool villas.

Ideally located along Phuket’s Natai Beach, overlooking the Andaman Sea, you can choose pure relaxation in the form of sunbathing, swimming or massages at the spa, but there’s plenty for active guests to do too, from beach volleyball and surfing to Tai Chi classes and CrossFit sessions.

If you’re looking for value for money, you couldn’t do much better than the beautiful Asara Wine Estate & Hotel in Stellenbosch, South Africa, especially considering the quality of wine, beauty of the surroundings and standard of the accommodation. Set in the dramatic, picturesque heart of the Cape Winelands, prices start from just £128 a night.

Once you’ve finished exploring the charming streets and shops of Stellenbosch, about an hour’s drive from Cape Town, make sure you have enough time to enjoy the hotel's offering. Activities include wine and gin tasting, wine tours and golf, while it’s also encouraged to take walking, cycling or jogging trails through the vineyards. The 41 bedrooms are chic, with understated decor, plenty of space and lots of natural light.

As one of Florida’s top tourist spots, Miami can certainly be an expensive destination, but thanks to the Me Miami by Melia, it’s a little less pricey, with rooms starting from just £129 a night. Located in downtown Miami, the hotel offers great views of the city skyline, and is a stone’s throw from museums, parks, the edgy Miami Design District, plenty of shops and the buzz of South Beach.

The 129 rooms and suites are seriously cosy, with beds that you'll never want to get out of, spacious bathrooms and sleek furniture. Elsewhere in the hotel, there’s a relaxing spa, a state of the art fitness centre and a picture-perfect infinity pool.

Tuscany has long been a desirable holiday destination, but with popularity comes expense. Thankfully, you don't need to pay an arm and a leg to stay in a chic 5-star there, with Livorno’s beautiful Grand Hotel Palazzo Livorno-MGallery by Sofitel costing just £108 a night.

Minutes away from the city’s charming hub and meeting place, Terrazza Mascagni, the grand building has welcomed everyone from aristocrats to celebrities over the years. It has a rooftop terrace with panoramic views of Livorno, an expansive spa and spacious rooms with high ceilings, dreamy views and elegant furnishings.

Marrakech is a hot destination this year, but hotels can definitely be on the pricey side. Not so at the grand, sprawling Hôtel Du Golf, where prices start from just £95 a night.

A perfect spot for golf lovers with its 27-hole course, there’s also plenty to do for those who have never picked up a club. There’s an extensive fitness centre, a free kids’ club an enormous spa, and both indoor and outdoor pools. The rooms and suites are spacious with balconies and beautiful views of either the garden, the pool or the golf course.

It’s never easy to find an amazing hotel in a European capital without paying through the nose, but it is possible in Madrid, with prices at the luxury 5-star Hotel Villa Real starting from just £98.

Ideally located in the famous Plaza de las Cortes, it's a great starting point for discovering the charms of Madrid on foot. Its 115 rooms and suites all have balconies and terraces with great views, either of the Botanical Gardens, the Retiro Park or the Paseo de la Castellana. They're stylishly decorated with contemporary furniture and wooden floors. The hotel is also home to a noteworthy ancient art collection, which is exhibited in the bedrooms and the public areas.

An archetypal luxury destination, many travellers might think that Fiji is out of their price range. But thanks to the very reasonable prices at Shangri-La's Fijian Resort & Spa, starting from £159 a night, the awe-inspiring South Pacific country might be more accessible than we thought.

Located on the the private Yanuca Island, the resort has all the ingredients for a magical holiday: a beautiful beach, a vibrant coral reef and a peaceful spa. The 442 rooms feature Fijian-inspired decor, private balconies and beautiful views of the Pacific Ocean.