My fav. place to stay in Memphis...
Ok, so it's the only place I've stayed (I have stayed twice, plan to stay a third time next year). It's an older hotel and the elevators SUCK, but other than that - the rooms are awesome. Great staff, onsite (though you pay for it) parking, and great location. Perfect walking distance to Beale st., just under a mile to the Civil Rights Museum and horse carriages pick up across the street for great, informational tours as the sun goes down. 
Great restaurant and speedy room service!