I've been to Maebashi many many times on biz trip, and have tried several different hotels in the area. I found Hotel Sanderson to be the best in value. The location is very convenient as I need to commute to Shin-Maebashi. It's only about 10 min drive to the Shin-Maebashi train station, and the receptionist will call one of the taxi operator when requested.
The hotel used to be called Grand Maebashi hotel, and some local folks that I met still refer to it as "grand" hotel.
Pros: friendly staff, clean and modern room, internet access, good value, serves japanese and western style breakfast.
Cons: only a few restaurants within walking distance.
Unique Quality: I used to stay for several weeks at a time, and my favorite item is the free ADSL modem. (It was free 2006). Just ask the front desk when you check in.
Directions: On the north side of route 17, just west of the river.