My Boyfriend and I stayed at the Rydges World Square Sydney Hotel last month. It was about $150 per night. Its located on Pitt street which runs Parallel with George street where the Hilton is. It only takes two mins walk from Museum Station if you are arriving by train. It also has a monorail which will take you right to circular Quay for about $4. Its a really nice hotel, and seems very new. Hope this helps.
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