The metro construction is a pain in the butt for accessing any businesses along the Le Loi Boulevard (the corridor from Ben Thanh Market to the Opera House), either by car or by foot.
In my opinion walking along the narrow alleys that they have created along most of the length of Le Loi Blvd is indeed scary and I would not recommend. Thus, my favorite hotel of late, the Liberty City Center, located at the corner of Le Loi Blvd and Pasteur Street, is now off my list until the construction project is closer to completion.
The hotels in the Ben Thanh market are however mostly located in streets that run parallel to Le Loi Blvd (such as Le Thanh Ton St, Ly Tu Trong St). Those hotels are perfectly accessible by cars, bikes, and those streets are very walkable to the Ben Thanh Market or to the other major sights in the City.
Likewise, the hotels in the backpacker area (Bui Vien Street/Pham Ngu Lao Street) can also be accessible via the parallel streets.