This riverside lodge 2km from Madla gate is a superb base. Eight large, very comfortable cottages are spread around the grounds, with thick, cooling mud walls and a wonderful rustic-chic aesthetic. Everything including the attractive wooden furniture is created from local materials, and the excellent meals include homemade bread and vegetables from the Sarai's organic garden.
It's run by a pair of passionate conservationists, one of whom is a tiger biologist (and author of the fascinating book Rise and Fall of the Emerald Tigers) and the other a former wildlife film-maker. This is the perfect base not just for Panna, but also for visiting Khajuraho (a half-hour drive away) and the little-known, but spectacular Chandela forts of Ajaigarh and Kalinjar to the northeast. Boating on the Ken River and a walk to nearby Toria village are included in rates. Most guests stay three or four days. If you feel like just unwinding, pick a book from the library and relax by the riverside or in the open-air dining and lounge area.