Bucharest hotels are scattered all over the 6 official districts and you will find all types of accommodation and prices levels in all areas. In the city centre for example there are a number of 5 star hotels but also 2 star hotels. Bear in mind that some of the 4 and 5 star hotels in Bucharest cost only a fraction of what 5 star hotels might cost in cities like Paris, London or New York City. So there might be an opportunity to live cheap on luxury for once instead of the routines backpacking hostel type of room share. Some of the luxury hotels though are still expensive and so there are a couple of hostels or budget hotel types such as the Banat in the downtown area and the Astoria hotel near the Gara de Nord. The Vila Gabriela is quite a nice property located in the Otopeni area.
Bucharest has wide range of hotels but it will depend also on the location you are choosing. Several hotels in Bucharest downtown area are well priced. Vila Helga is a hostel type accommodation for 10 Euro and there are many more.