Graceland
We thoroughly enjoyed our stay at the Heartbreak Hotel and the tour of Graceland. It is an older hotel, but nicely kept. They offer an adequate free continental breakfast in a very pleasant lounge area. The staff is very friendly and helpful.
The Graceland tour was very enjoyable - even my husband liked it!
The only other hotel in the Graceland area is a Days Inn, Do not even consider staying there! It is more than worth it to spend a little extra to stay at the Heartbreak Hotel, especially since one or two nights is all that is required for this area because there is not much else to do in the immediate area. 
There is not much of a choice of restaurants in the immediate area either. We went to Marlowe's, a barbecue restaurant, which we thought was overrated. But you do get a free ride there and back in a pink cadillac. At lunchtime, the eating places located at Graceland are decent and clean and priced reasonably for a tourist area.