In Cusco, you can stay in a good, quite pleasant guest Hostal for $15-25 a night, or you can stay in a deluxe 5* international standard luxury hotel, for $250-400 a night, as well as the entire range in between. You might help us by giving us some idea what you are seeking.
If it's the former, I can heartily recommend the Hostal Marani, up the hill about 4 blocks from the Plaza de Armas, in San Blas.