I think it was Jed who said:
the Portland Square on 47th St., between 6th and 7th. A thoroughly no-frills place, but it's clean, great location, and inexpensive. They currently list a single room with private bathroom in mid-March as $85 per night ($80 for stays of three nights or longer). Tough to beat for 1/2 block off Times Square.
And it's just a block away from Ginny's hotel and Panni's possible hotel. It's on the same block as the stage door of the Palace Theatre where All Shook Up, the next Jukebox musical to hit Broadway, will be playing. Aida just closed a while ago after playing there for many years (not as many as Disney would have liked but enough). Sweet Charity also played there in it's original incarnation and Judy Garland had many happy nights at the Palace.
The hotel is also a hop, skip and a jump away from the TKTS Booth (half-price tickets) and midway between the N and R trains at 47th Street and 7th Avenue and the B, D, F and V trains at 6th Avenue and 47th Street. The TKTS Booth is across the street from an Olive Garden in case you require sustenance during your stay in Times Square, and down the block from McDonald's. And who said New York doesn't have classy places to eat ;-)
It's also just a block and a half from a Virgin Mega Store in case you require CDs or DVDs (overpriced, I'll grant you, but convienent for the Midtown Shopper). HOJO's (Howard Johnson's) is on the corner of 46th Street and Broadway and just up the block from Beauty and the Beast and across the street from La Cage aux Folles.
This concludes your mini-tour of part of Midtown Manhattan. Please remember to tip your Tour Guide ;-)