Depends on what you want. Mall Road area is central – easy access to shops, taxis, and sightseeing, but it’s busy, noisy, and very touristy. Old Manali is more relaxed with riverside cafes, live music, hostels, and a hippie vibe. Younger travellers, couples, and backpackers usually prefer Old Manali. Families with kids or older travellers often stay near Mall Road for convenience. My tip → Stay 1–2 nights in Old Manali for the vibe and then shift closer to Mall Road for easy sightseeing.