Everyone here is going to have their preferences. Since this is a guest house, and unlikely to be used from day to day, I think the main selling point would be price. (This may not be the case if you're a multi-millionaire, but for most it is.)
That being said, LG-Phillips, Olivea make very reasonably priced units that will work with DVD players. You can pick them up at Wal-mart & Sams club, BJ's, & cost-co. The drawback is you'll have crushed blacks (dark scenes aren't as detailed.), lower-res, and less vibrant colors. Other than that, they give you great bang for your buck.
A decent 42" in $1000 range should not be an issue. To help you out more though, you need to decide if you want larger/smaller screen & what your spending cap is.
You can get a stupendous 42" for $1600, but then again you could get an "okay" 52" for the same money.