I recently attended a conference on the Pest side of Budapest, at the top of the M2 line (metro). The hotel was well priced at 35 Euros per night, was very clean, quiet, offered breakfast every morning from 7-10, and for our uses was less than 100 metres from our conference site.
There is plenty of transportation within steps of the hotel, and getting downtown is also easy using either trams, buses, or the Metro. We opted for a 72 hour transportation card, and so we would just hop on and go. Getting downtown from here was about 15 minutes.
Do not confuse this property for some of the bigger names like Hilton, Sheraton, or Ritz carlton. it does not pretend to be any of these. It is functional, clean, and conveniently located if you need a lower priced accommodation.