The Broadway Hostel and Hotel in New York's Manhattan upper west side is offering stays for $38 in a quad room with shared bathroom. You need to book online by the 1 October 2008 for stays until 30 December 2008. As an additional incentive you'll receive a complimentary drink at the bar of the nearby Marrakech Hotel.

The hostel is described as chic yet cheap. It's been recently refurbished and the dorms have soft lighting, contemporary furniture, European bed linen, plush pillows and blankets and free eco products in the bathroom. There four, six and eight bedded dorms. If you'd like more privacy private ensuite rooms start at $219 a night. The public areas are large with a kitchen/dining area, free wi fi, a theatre room, comfy sofas and a fireplace.

All in all, $38 a night for a bed in four bed dorm sounds like pretty good value.