Grace Hotel (CLOSED)

Celebrity hotelier André Balazs has mastered almost every type of property, from hip L.A. hotels (the Standard) to Art Deco resorts in Miami (the Raleigh) to luxury condominiums in Manhattan. In 2006 he took a stab at youth hostel chic, albeit with Egyptian cotton sheets, flat-panel TVs and a lobby pool with underwater music. Rooms start at pretty low prices for a midtown hotel. This brand-new stylish hotel for the budget-minded traveler is the last thing you’d expect to find in the middle of Times Square. That and the trippy corridors, which get smaller as you get to your room. Which is also likely to be narrow, but with fittings well adapted to the space. Rooms: 139. Bar. Gym. High-speed wireless Internet (free). Pool (1 indoor).