One of the best guesthouses in central Myanmar, Salay River View (part of Salay House cafe) is a treat. The main building dates from 1906 and drips old-world character. The rooms themselves are set around a riotous tropical garden, overlook the Ayeyarwady River and are spacious and comfortable. Many people come for a night and end up staying several.
Best of all, though, are the couple who run the place. They speak fluent English and German, are experts on the town's history and will fuss over you to an embarrassing degree. Oh, and if you get sick, one of them is a doctor.
Bike hire is US$8 for a half-day.