If you are looking for a place to stay in Edinburgh, then I recommend that you book Castle Rock. It's a Scottish backpackers hostel located just behind Edinburgh Castle and three minutes from the main street Lawnmarket, where there are plenty of souvenir shops, restaurants and where, along it, there are several monuments and sights. Castle Rock has a great atmosphere and a lot of young travelers stop by. The main room, the larger one, and the smaller ones are cheaper. This hotel has more than 14 to 16 beds for about 12 pounds per night (about 13 euros). The room is quite spacious, so you do not get the feeling of being crowded or cramped because people tend to respect the fact that they're sharing a room.