Wombat's Munich lives up to the standard set by its Vienna sister-establishment [-] - this is one of the cleanest, most comfortable and funnest hostels in Europe (and I've stayed at a few!),

Very centrally located just outside the Central Train Station (100m), and very keenly priced year-round, Wombat's is pristinely clean and provides sheets and blankets in the room cost. All rooms are en-suite, and have rucksack-sized lockers and locking doors. There's a lift and stairs located beside the bar.

There's also a good bar with cheap booze (esp during Happy Hour) and a pool table, and plenty of coin-fed internet machines. The bar also serves cheap food in the evenings, although the portions can be small.

Bookings for Oktoberfest each year are only allowed from June 1st, so there's an equal chance for all, which is a great innovation. Rooms prices are only slightly higher at this time, and you get a free stein thrown in!

All in all, highly recommended - I stayed there in June 2005, and will be returning for Oktoberfest 2005!