There is an abundance of accommodations in Melaka with new hotels popping up all the time. You'll find everything from budget backpacker hostels to 5-star business hotels to boutique hotels in renovated heritage buildings. A new trend in the Melaka accommodation scene is homestay programs where guests stay with a Malaysian family, though these tend to be a bit outside of the city centre.
If you're on a budget it's possible to find a dorm bed from RM20 while a private room in a budget hotel costs around RM100. Note that hotel prices at popular hotels like the Aldy Hotel increase on weekends and public holidays.