Most hotels are expensive along the Great Ocean Road...but the Grand Pacific Hotel was quite reasonable... It was just refurbished when we went in 2005...and the rooms were boutique styled, comfy, small but very chic.
The restaurant was excellent...and the cafe was nice to hang at during the day. We ate dinner on a sat nite when they had jazz....
The pier is located right across the street for fishing...and the Lorne NP is a great place to trek.
The only drawback...it wasn't located in the middle of town with all of the cafes, etc...but it wasn't that far to walk. (3Ks?)
268 Mountjoy Parade, Lorne
150 Mountjoy Parade, Lorne
128 Mountjoy Pde, Lorne
Cnr Great Ocean & Deans Marsh Roads, Lorne
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Address: 268 Mountjoy Parade, Lorne, Australia