Vain is a real boutique hotel, in Palermo of Buenos Aires. If you like design, minimal, comfortable places nad great service, this is a very very good choice for you.
It has only few rooms, every one of them with great design.
They will surprise you by letting in you room every nigth a chocolate for each and the weather forecast for the next day!!!
In the morning, a fresh orange juice is there for you just as you sit , before ordering and the coffee selection is great...
And the lounge on the terrace....Absolutely great for spending time , every hour of the day; wine at nigth or coffee and breakfast in the morning.. Or just staying there to read a book or check your e-mails at the hotel's guest PC.
If you want, ask for a room with a jacuzi... You will drink all the wine in your room and just love it...
The only problem was that when the aircondition was working, it was very loud ....Anyway.. We left with the best of it...

We had a great experience at Vain. The staff was great -- very nice and incredibly helpful (we used them constantly for recommendations, directions, reservations, etc). We stayed in a "V" level room, which was the biggest. While our room was modern and comfortable, it was not especially large (though we got the sense that most boutique hotels in Palermo would have similarly sized rooms). Vain has a common "living room" on the top floor which was very nice, complete with books, couches, a computer with internet access, and and adjoining roof deck. Breakfast was included in the room rate and was delicious. We loved being in Palermo -- the hotel is about a 10 minute walk from Honduras St, which seems to be the center of the action.

Stayed at VAIN in the week of Thanksgiving, primarily because we wanted to stay in Palermo and the other top boutique hotels I was looking at were fully booked. Based on positive reviews from this site, decided to give it a shot, and went for the "Junior A" suite; called the hotel directly to make sure we got a room in the back so we would not hear noise in the middle of the night. The owners have done a great job renovating and converting the building, but the hipness factor definitely does not justify the price they are charging.

The positives:
-Great breakfast; we stayed at a couple of other places in Argentina, and breakfast here was the best
-Friendly staff with good English; we got a good recommendation for La Retirada, a nice restaurant nearby

The negatives:
-While Palermo is an up-and-coming area, the street where the hotel is located is quite run-down and dirty; did not feel safe walking around in the evening; definitely take a cab
-The rooms are small - our "junior suite" was a small-sized room compared to hotels in the US
-The furtniture is cheap and impractical - you don't get a closet; there is a shelf/drawers combo, and you can hang up your clothes on a hanger, but your clothes are in full sight; no door to close
-The AC is non-functional; it was a very old model, located high up on an internal wall, it was loud, and the air wasn't cold at all; as others mentioned before, YOU HAVE NO CONTROL OVER THE TEMPERATURE
-The first night, we found a COCKROACH on the floor
-The bathroom tiles were moldy and did not seem new or clean

This was our first visit to BA, and we definitely want to return, but next time we would stay in Recoleta; Palermo is just too far out of the way and the boutique hotels have a long way to go to live up to their aggressive price tags

My wife and I stayed here during the first week of 2008 and had a great experience. The staff was so helpful with planning a tango show, golfing at the city golf, going to an estancia, and arranging a half day at the spa. The staff sincerely seems glad to help...its not like they are just looking for a tip. The breakfast was delicious everyday and served expertly. The hotel offers free wireless internet. Our room was on the first floor and was just as we expected. Its a very modern room that uses its space very well. We were comfortable the whole time. The shower / toliet area is a little small but it wasn't really bothersome. There is a very modern elevator for traveling to the upper floors. The top floor has a great indoor / outdoor common area. It was very peaceful anytime we stopped up there. Some previous posters seem disappointed in the lack of luxury. I really feel their expectations were misaligned. This is a modern and chic boutique hotel. It has style and charm. The whole area of Palermo is a wonderful place to stay, eat, and sleep. We got to know locals at the laundry, market, and shops. I highly recommend this hotel to someone who likes the boutique experience. The hotel is very fitting with the spirit and vibe of Palermo.