An adjustable platform bed frame includes first and second frame segments, wherein each frame segment has an outer frame member and a plurality of cross-members, with the first frame segment being positioned at a height that is slightly lower than that of the second frame segment an adjustable frame member pivotally connected with and positioned above the first frame segment and an adjustment mechanism connected at one end with the first frame segment and at its other end with the adjustable frame member, with the adjustment mechanism being operable for temporarily fixing the adjustable frame member in an inclined position relative to the second frame segment. The first and second frame segments may also be connected with one another by a lateral hinge connection that allows the first and second frame segments to fold relative to one another.
