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Many of the hotels that dot the area just south of Central Park offer luxurious amenities at wallet-busting prices. The Park Savoy isn’t one of those hotels. Visitors on a budget can expect instead a clean room, a comfortable bed, and ultra-basic amenities that put them near Fifth Avenue shopping and Times Square’s theater district. Originally built in 1942 as a residential complex, the building was later converted into a nine-floor, 80-room hotel. The tiny rooms barely fit a table and bed—guests become intimately acquainted with the motel-style floral bedspreads and ugly forest-green carpeting. Basic cable and central AC are the only apparent frills, but a night’s stay here is a harmless way to save a buck. Put it towards other splurges around town. — Grace Bastidas

Visitors to New York can pay steep rates to stay in a hotel on Central Park, but guests can vacation here, a block away, for much less.

Cons
The smaller rooms can be claustrophobic, especially with their uninspiring décor.