My wife and me stayed in Hotel Vila Lux for 9 days in May. The hotel is located directly on the main Adriatic road, a few minutes walking distance to the Old Town of Budva, but far enough away from the waterfront to get the music from the clubs there.
Although being directly on the main road, windows deaden the sound (when closed) that you get not much of the noise from the streets. The Hotel offers parking space for free for a few cars.
Rooms are rather small (some rooms with two single beds although double room was booked). Rooms were remarkable clean. There is no lift.
Breakfast was served to the table (when only few guests were here) or served as buffet (when more guests were there). It was totally adequate.
Personnel (speaks English very well) was always very friendly and helpful. The owner lives half of the year in Germany and half of the year in Budva.
Overall, we were happy there (no luxury, small rooms but very friendly atmosphere).More