Re: Hotel Napolitano
It is perhaps the most conveniently located of any hotel:
All rooms have a nice view of the Caribbean.
It is within easy walking distance of both the Conde St. (where you'll surely want to go for shopping, restaurants, hobnobbing with other tourists, meeting girls, etc.).
It is also within easy walking distance of the Jaragua Hotel/Casino, Sheraton, and another whose name I don't know.
It has a 24 hour restaurant overlooking the Caribbean, another meeting place for tourists.
It is somewhat old but in your price range, and offers almost everything.