Hi, I haven't been to Cambodia but I will be visiting in March for 10 days. A friend recommended the FCC in Phnom Penh. He stayed there and said it's small but really good, and has a terrific view over the river. He also said if you rent "The Killing Fields" some of the movie was shot in the hotel. I booked it and it doesn't seem to be too expensive by western standards. We are also going to Siem Reap and we booked a place there called golden Orange. No idea what it's like but their web-site seems to indicate that it's OK and very reasonable. Good luck!!
The FCC indeed has a great view of the Sonle Tap/Mekong rivers which in my opinion is essential if you go to Phnom Phen. You really must stay at the Riverside. South of the FCC are a number of good quality restaurants serving very good food at a very reasonable price.
Phnom Phen is a very interesting place to go but brace yourself for beggers as there are literally thousands of them there. You cannot escape them. I usually give them the Riel change I get as change from shopkeepers. It is enough.
Also south of the FCC,(past the main traffic junction) are a couple of hairdressing /beauty salons ((male and female) and it is worthwhile visiting them for the experience alone. The one I like best is close to the Bouganvilia hotel. Surprising top quality.
If you want to go to Cambodia,I will recommend you the Sunway Hotel Phnom Penh, which accommodate with comfort and is located in one of the capitals most exclusive addresses which surrounded by colonial buildings. It is 15mins away from the airport. It is really a nice place to stay in. You can visit this website to help you look for more hotels or accommodation in Cambodia. Just submit a request to this site http://www.goworldwidetravel.net/
Where about in Cambodia??? If its Phnom Penh and your after something cheaper than FCC or Sunway (which is lovely) have a look at the Billabong Hotel, good location, has a nice pool and costs about $35 Aussie dollars for a double room. Theres a bit of info on the Billabong and Sunway on my link below. Cathy http://www.cathyandgarystravelpages.com/hotels_-_phnom_penh.htm