Ah, personally, about $300 - $500? On the higher end, the hotel has to be something in the airport, e.g., GH SFO, Sheraton CDG, or TWA JFK. If I'm with my family or with anyone else, whatever the cost.

During several occasions, say, at SFO/LAX/JFK when an evening flight cancels until the next morning, I'll refuse the voucher or go through the hassle of filing a claim and just spend the night at the airport. I'll just find a seat, open up my laptop, listen to an audio book and pass the time. I generally don't sleep too much anyway and usually only avg 5 hours or so. So, by myself, no big deal and I kind of enjoy it. Of course, since I've yet to meet anyone else who shares that idiosyncrasy, I'll pay for a hotel if I'm with anyone else, irrespective of the cost. In airports where I'm familiar with their hotels, JFK is a good example, I'd refuse any of their vouchers, unless it's the TWA; or, SFO, I'd only accept GH; DFW, only GH, etc. Otherwise, I'll just pay for it.

Finally, by myself, generally the shuttle bus thing is a deal breaker. In that case, I'd call a cab or uber and stay at hotel in the city.