Metropolitan Hotel

Pros: Clean facility, friendly staff.
Cons: a moderate walk from times square, central park. (.5 - 1 mile in distance)

I am a college student and found a great deal for this hotel online. I booked a double bed for $109/night. The hotel is between half a mile and a mile from Times Square, but there are plenty of shops and souvenier stores along the way. The hotel was very clean and service was great. Parking is $30/day if you stay at the hotel (usually $40 for non hotel guests).