Sorry to create a new thread, but the only prior thread I could find was for different circumstances. I'm looking for something both family and somewhat budget friendly (I know that's a lot to ask around the holidays). Traveling with my wife and a 5 and 8 year old mid-December.

I've got some rooms currently booked for the HI Times Square but wonder if there's a better choice? I'm picking it because of location, but prices throughout New York for two beds seem to be quite hefty during the period. Prices for the Candlewood Suites or HIX really didn't seem much better so they didn't feel like great options unless I'm missing something. Is Times Square even a good location around that time or will it be too crowded and hectic, or is this the best choice? It will only be my second time in NYC and the first for the kids so we want to do a bunch of touristy stuff. Thanks for any recommendations!

Edit: Some additional info... IHG Plat, and we are staying for just a week before Christmas, leaving on the 23rd.