We've stayed at the Alvear Palace and the Four Seasons, both are good choices. The Alvear is in a bit better location, closer to the Recoleta cemetery and lots of restaurants. It is more formal and historic, with amazing service and breakfast buffet. The FS is more contemporary and has an very nice spa. The location is near the highway which is one thing that detracts from its charm, but is a short walk from the delicious steak restaurant, El Mirasol.

Between the two location-wise is the relatively new Park Hyatt, a mix between the traditional of the original palace facing the street and brand new minimalism in the new building behind the gardens where most of the rooms are located - we peeked in there and it looked very chic.