Location, location, location
If the title didn't tip you off, this hotel is probably in the best location in the city. Located on 15th St., you are exactly 10 blocks south of UT campus and the Drag, and 10 blocks north of the Historic 6th and 5th streets. You can literally spend your entire stay without getting into a vehicle. and all of the rooms have views of downtown since you are smack dab in the middle of it. I stayed here with 4 friends for New Years a year ago. It was perfect for our needs. The two room suite featured a living room with a fold out sofa bed and a small kitchen, and a bedroom with two queen sized beds. The room was very comfortable for 5 people and even featured a walk out balcony. The staff was very friendly and the cost was very affordable for our group. It would be a little on the expensive side for a single or couples getaway. Be advised that you do have to pay for parking (I believe $16 a night). I highly recommend it is it fits in your price range.