We checked into a renovated room in Zermatt Budget Rooms, which is the basement level of Alpine Resorts and Spa. The triple room is very spacious with the beds on one side of the room, sitting area on the other, and the bathroom on a lower level accessible by stairs. The staff were friendly and helpful, and the included breakfast was plentiful. The spa was fabulous—I particularly enjoyed the onsen.
The only constructive criticism I have is that the fans in the bathroom were very loud and there was no was to turn them off. Eventually we got used to the noise, but it is quite noticeable.
All in all, I highly recommend Zermatt Budget Rooms and I would absolutely stay here again if I were ever back in Zermatt.