Bunking in at a hotel undergoing renovations isn't always a bad thing, especially when the hotel's less-than-perfect appearance translates into a deal for you. Case in point: the "Dress Rehearsal" rate from the Portland Square Hotel, currently in the midst of a revamp that will culminate in its reintroduction as the Sanctuary Hotel sometime next year.

Room rates at Houston hotels saw a 30 percent drop this month, when compared with rates from this time last year. The sharp reduction in rates in this Texas town landed Houston in the number one spot on Hotwire's recent list of city-by-city hotel rate reductions.

For travelers, that means a 4-star Houston hotel booked on Hotwire can currently be had for an average of $83 per night.

After a recent visit to the Capitol Skyline Hotel, the New York Times concludes that the property best known for its summer pool parties feels like a budget hotel with upscale twists:

In some ways, the Capitol Skyline almost seems like a luxury budget hotel — a little worn, a little out of the way, but a hodgepodge of a place to meet fun people or crash for a few days at a good rate (doubles start at $109).

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Pondering your best bets for visiting the City of Angels without an Entourage-sized budget? Cheap doesn't have to mean choosing between grubby or boring, proves a recent Budget Travel roundup of five new Los Angeles hotels known for rolling out boutique amenities and design elements without the matching rates.