The Waldorf Astoria is very nice, but be advised that some of the rooms have a less-than-beautiful view of the city. Last time I stayed there, we overlooked the dumpsters.
The last place I would stay is at the Waldorf. I'm not saying it is bad, it's the price. I've stayed at the Super 8 Times Square on 46th Street for about $180.00 a night. I've also stayed at the Milford as well as the New Hampshire in the same price range. My theory is that I'm going to be sleeping there so I don't need that much room, just a place to park myself. The rooms are respectable and just what you would expect for that kind of price. The do have a continental breakfast.
A great new hotel is the Bowery Hotel. Most rooms have an amazing view - I recommend it to all of my friends when they are in town and they love it. Also, a lesser known place is the Lafayette House, by the same owners as the Bowery. It's much smaller, quaint, but in the same hip hood. It's also more affordable.
Have you tried a Bed and breakfast? The Brand Bed and Breakfast in chelsea offers an apartment in a historical brownstone in a residential neighborhood. You can discover New York City like a native, get more room for your money, have your own kitchen to prepare your breakfasts and special meals, a real living room....and restaurants are priced more reasonably in the residential neighborhoods than in commercial areas. Check out our website for photos of the apartments: brandbedandbreakfast.com.
great location. very clean and NO INSECTS... rooms were tiny but who cares? you don't go to NYC to hang out in your hotel: Murray Hill Inn.. on 30th street near Lexington. Staff was helpful too.
and take a look and see if they have the new york maps with the discount...they are very cool and not forced to do what on this other offer programms is...it is cool, but it makes you independent...it is this one: http://www.newyorksmartsave.com/