The other hotel that is nearby and is very good is the '''Hilton Dresden''' (http://www3.hilton.com/en/hotels/sachen/hilton-dresden-DRSHITW/index.html), it just doesn't have the same views.
=== What to see ===
Dresden is my home town, when I was living as a kid in East Germany. It's still amazing to me what transformation this town has gone through in the last 25 years. When I was 10 years old, most of the downtown area was still in ruins, including the '''Frauenkirche''' right in front of the hotel. Make sure you go inside for a visit, and go to the top of the dome for a look around Dresden. The church is partially reconstructed from existing pieces that came from the rubble, and were reinserted into their original spots. That's why parts of the outside looks like a mosaic. On the way out of the church, you'll notice a crumbled metal cross at the exit. It's the original cross that was found in the rubble. The new cross that is now on top of the church was donated by a gold smith from London. His father had taken part in the air raid. The church was entirely reconstructed out of private donations, the largest donations coming from the US.
Before doing anything else, have the hotel staff help you making reservations for the '''Green Vault''', a museum that houses some of the most precious artifacts that the Saxon king collected. Don't miss to see that, but you have to get a reserved spot, and you most likely won't get tickets for the same day (sometimes not even for the next day).