If you're staying in Old Town Zürich you'll immediately see a massive divide in price from very…read morereasonable to astronomically high for luxury - this is a moment to lean towards the thrifty side. EVERYTHING in Zurich is very nice including the discount hotels. For three nights we spent, in total, 403 CHF or ($446 USD) and the LOCATION was steps away from every restaurant, shop, and historical church you wanted to peruse. In addition to the great location, the hotel was charming, the room was clean, the windows had a view, and the heat worked - maybe a little too we'll, but more about that later.
So, unless you have business in Zurich and your sole purpose is to tour around this charming; luxurious city, stay at the Hotel Hirschen where next door you can eat buckets of cheese to your hearts content, and then some, and in 3 days leave with your monogrammed Victorinox and appreciation for millennia old monasteries feeling confident anything more would be repetitive. And, hopefully, you kept an extra 100+ CHF per night in your pocket by staying at this hotel where the sole reason I'm not giving a 5th star is the shower will scald you if a neighboring room decides to flush their toilet but a quick morning exercise in reflexes for over 100 CHF is a game I'll play every chance I am offered!