MTDC provides good accommodation at Fardapur village (the place where you park your car or alight from your bus) when you reach Ajanta. The room rates are Rs. 1,400/- (air-conditioned) and Rs. 1,200/- (non-air-conditioned), as in 2012. A reasonably-priced restaurant is within the complex itself.
Adequate parking space is available inside the campus.
The website for booking is:
Within walking distance of the caves
We took 2 rooms for a night in Amarpreet Hotel, Aurangad to see the Ajanta and Ellora caves.
We were picked up at the airport by a very good, courteous, knowledgeable and friendly driver: Sunil Yadava and brought quickly to the hotel.
The check-in staff were competent, and the manager was very friendly (don't be turned off by the two front teeth he's missing!). We were then given our rooms.
The rooms were mid-priced and were clean and spartan, but very nice.
In the bathroom, the towels are a bit off-white, so do ask for replacements. The shower-head in one room fell off mid-way, but was easily screwed back on.
My sister-in-law found a lizard in her room and called room service and they were very nice and upgraded her to a deluxe room, which was VERY nice indeed.
The complimentary toiletries are not good, but hey, it's a mid-range hotel.
The food at the restaurant is good.
We had a really good driver who took us to the caves and gave little vignettes of the area including the cotton fields, sugarcane fields etc. He also gave us warnings of the hawkers and tips on what to see and how to do things.
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