There is an abundance of choice when it comes to quality bed and breakfast establishments in Melbourne, that it would be crazy booking a hotel: whether you are visiting Melbourne, and even if you are a local who wants a weekend or daily escape.
If balconies and french furniture is your thing, then the Villa Donati is a bed and breakfast establishment worthy of your attention. Well lit and beautiful ambience. Also great 4-star hotel rates are included.
Otherwise for those business meetings in St Kilda Road, and you want to hang out around popular Chapel Street, then the Prahran Village Guest House would be more your cup of tea (no pun intended), and if your someone who loves living in terrace homes, and you also want to be situated as close as you can to a beach; then your also in luck with St Kilda Beach not too far away; or otherwise if you want to stay in the city, and you love fast and friendly customer service (also tried their antipasto plates for lunch one day, terrific) then The Lindrum is worthy of your consideration.
Travel sites such as Expedia and Last Minute advertise cheap rates for many other bed and breakfast establishments; great if you are on more of a budget.