The ZicZac Rockhotel, situated in the Niederdorf, is a great hotel to stay if you are on a budget. Rooms start from CHF65 per night (or possibly CHF60 if you ask for a corporate discount). Each room is named after a rock star and is "themed" with posters or gold discs, etc by that group or artist.
It is clean, and the staff are friendly and helpful.
A light breakfast of croissants and coffee is available for about CHF8.
In the basement is a very popular bar, which is absolutely packed at weekends (which seem to start on Thursday in Zürich).
I like this hotel so much, I always stay there when I visit Zürich.
It is also within a 10 minute walk of the main train station.
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