You can negotiate with the Do&Co in VIE. We did around 250EUR a night and this hotel is smack in the stephansplatz and very easy to get to by the U from the station.

Do&Co is my favorite hotel I've stayed in Vienna.

If you like meat there is a place "plachutta" that has excellent traditional meat dishes. I HIGHLY recommend their goulash. Pastries are everywhere...Demel might be good stop for you.