With its central location and the waterfront promenade nearby, Harbor East is probably the best location to stay. Hotels in the area include: 4 Seasons, Baltimore Marriott Waterfront, Courtyard Marriott. It's a central location that is easy walking distance from the touristy Inner Harbor and quaint Fells Point. Not to mention the great restaurants close by including the Lebanese Taverna, Vino Rosina, and the locally sourced Fleet Street Kitchen. If you want to do some trendy shopping, you'll find all the nicer chains such as Anthropologie, Lulu Lemon, and White House Black Market.
If you're wandering all day and feel like a snack Whole Foods is nearby and my favorite wine shop Bin 604 which hosts regular wine tastings right next door.