I've mentioned this earlier, but recently Beau and I transformed one of our guest bedrooms into a home office/studio space. Since the dogs pretty much took over the other guest bedroom, we still needed a place where our guests could sleep. Our solution was this sofa from IKEA. (I was going to share the link, but I actually can't find it).
I love the color - it's neutral, but not boring at all. it almost has a linen look to it. Best part of all...the bed part is actually very comfortable. Remember to use Love Blue Bag if you're going to order one!