I stayed five nights in Presidente Inter-Continental and really enjoyed my stay. It is next door to Nikko Hotel and Hard Rock Cafe Mexico City on Reforma. I cannot say anything about the rate as we stayed during a conference and it was an all-included package. But the hotel is very very nice.

And yes, be very careful about VW Bettle Taxis especially at night. Do not carry money with you and minimum number of Credit Cards and Cash Cards. I even heard of taxi drivers kidnap tourists to take one ATM to another to have money from your account.

But Mexico City is a fascinating city. Pyramids, San Angel, Anthropological Museum, Univercity and all other sites worth a visit.