In two cases I seem to be unable to find the right translation for fancy into French.
- A fancy camera
- A fancy hotel
It mustn't be so hard to understand but I'm quite hazy about what's meant there and just feel so stupid.
It could be translated into something like sophistiqué, or perhaps chic.
Note the nuance between French and English here – in French, sophistiqué means unnecessarily elaborate (cf. Dictionnaire Littré) whereas in English it does not have this somewhat pejorative connotation. The adjective "fancy" means elaborate, but it also implies that the thing is decorative (and potentially non-functional) or meant to impress (i.e. elaborate beyond what is strictly necessary to make it useful). This is why I feel that sophistiqué could be a good translation.
Edit: And see @Micromégas' comment about "fancy" implying that the elaborateness of the object in question can even impair its function. The same idea is also conveyed by sophistiqué in the sense explained above.
Fancy is one of those words which doesn't have only one or even a few equivalents in French. Its translation depends a lot on the word it qualifies and the context. In your cases, I would suggest the following:
*The French adjective sophistiqué in the sense of sophisticated is sometimes criticized as an anglicism, especially when characterizing technology advancements: “Ces empl. de sophistiqué sont parfois critiqués par les puristes comme américanismes (ou anglicismes).” (TLF)
In more spoken french, "fancy" can be translated by "classe".
"Classe" is a mix between "classy", "luxury", "impressive". This does not fit the "fancy camera".