My strategy for choosing a NYC hotel is to remember why I'm there. If you're on a holiday and plan on spending a lot of time in your room, go somewhere else! Seriously, you should be using the room to sleep in, coming back every night exhausted from your excursions. It's nice to have a room near Times Square, but you pay a serious premium for that privilege. On the other hand, getting a place out by the airport for half the price has its downside as the commute in and out of downtown is very long.