It really depends on how long you plan to stay in the hotel. Even at the least busy time of the night, it can take 30-45 mins to get to your outside hotel, each way. There are cheaper options but you may want to think about the convenience factor, especially if you have luggage.
As far as connections go, if you have luggage, I would think AI would be the most liberal with allowances, but otherwise IndiGo would be my choice for reliability.