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It does have a bar, yes, though I guess there's not a huge range of drinks. Less than 60 seconds walk away is a trendy bar with late opening & everything, but it is one of these "trendy" bars. Still, nowadays there are plenty of good pubs that also open late(r) than they did previously.

Cambridge centre is really not an easy place to find a decent budget hotel with parking! All the ones that might be more amenable are either totally out of town (post house) or far enough out to make walking ot bars a pain (the new holiday inn express).

Though it does pain me to say it, the Travelodge is a pretty good bet, and the price is actually pretty reasonable for a town hotel.

Hugo

Hugo speaketh the truth!

There's just a general lack of hotels in the city centre, certainly cheap ones. (and decent ones too!)

Cambridge is a PITA to park in, you're definately going to require a hotel with parking included, otherwise be prepared to take out that second mortgage to cover the price of your carpark!

The eagle is my personal favourite pub in the city center, barring the fact that during term time it's crammed with university students, but you kind of just have to live with them! The mill-pond is also very good, given that it will be summer you can get your beer and sit on the common by the river

Places to avoid:

the regal (<- number one place to avoid!!!)
b-bar
all bar one
slug and lettuce
rat and parrot

We have lots of very cool pubs in the city centre if you stay away from those places!

A taxi to the posthouse (impington) would be somewhere in the region of about £10-£12, but it's not a distance you'd want to walk from city centre (although I've done it many times!).