I'd recommend staying in or near old town Scottsdale, as it's very walkable with great shopping and it has tons of bars and restaurants. Having said that, I was in Scottsdale six weeks ago, I was staying at a friend's house but checked out local hotel rates just out of curiosity, and I couldn't find anything half-decent for less than $300 a night. It should be easier to find good deals in August obviously. Maybe check out the W hotel in old town. It has a very lively pool and a popular late-night bar.