Never been inside.
The advertized rates come to some 200 USD / night / standard double - nothing unusual, to my mind. Not that I fancy staying there, though. If on a budget, I suggest skipping hotels altogether and using Home Exchange.
Unique Quality: 'Budapest' is indeed 5 minutes' walk from the Kremlin, it's nearly 150 years old and it does have a character.
Anyway, it did when I saw it last - 10 years ago.
Relying solely on the Internet, I chose to stay at the Hotel Budapest. It was one of my best decisions. This older hotel (19th century) has seen better days. But the people are helpful, the hotel is small and comfy (only 125 rooms on seven floors), and a fair amount of someone's money has paid for some nice touches: my room, though small, was immaculate, sporting a brand-new Ikea armoire (complete with room safe for valuables). The doors even have electronic passcards! And breakfast is served in your room every morning. Not to mention that Red Square is only a fifteen minute walk away! All for the price of $95USD per night! Unless you want to spend a fortune in a fancy hotel, I find it hard to believe you can do much better than this little gem.
1/4 Teatralny Proyezd, Moscow
2/1 blvd, Kutuzovskiy prospekt, Moscow
Petrovka ulitsa, 11/20, Moscow
Kosmodamianskaya Nab. 52, Building 6, Moscow
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Address: Petrovskie linii 2/18, Moscow, Central Russia, 103051, Russia