While it meets all the criteria of a budget hotel, this historic midtown property feels well above its class. Located on 31st Street within blocks of the Empire State Building and right next to Macy's, the Wolcott Hotel gives tourists the gift of proximity to all the important things - Times Square, the Broadway theaters, Rockefeller Center and the shops and museums of Fifth Avenue. Rooms feature smart pinstripe walls and traditional decor in keeping with the building's hundred-year heritage while the business-minded have a conference room and wifi at their disposal. Penn Station is two blocks away and the hotel is generally well positioned in terms of subway lines and buses. The lobby of the Wolcott is a talking point in itself, its ornate gold-leafed cherubim and chandeliers giving guests a formal welcome.