We stayed at the Starhotels Excelsior in Oct 2008 for a few nights. Now, I don't know what your "inexpensive" range is, but this could be $150 a night which while not cheap is not real high end for Italy by a long shot. It is directly across from the train station and so convenient to any public transport and a range of less expensive dining options. We liked it for the time we were there. It is a modern, American style room and there was a great breakfast (eggs, etc.- uncommon for Italian hotels). It is a nice walk into the old center maybe 20 minutes or a bit more. Not high on the charm scale but very modern, clean and comfy. And I would try to see what kind of deal you might work..hotels may be looking harder for business, althogh Bologna can be a major meeting/convention town in Italy. We stayed 2 days in Bologna and really just sort of wandered around using tourist info and hotel provided maps and guides. I am guessing you are there for business or such, because I think that duration could be a little long for Bologna itself, but that's my opinion. We walked all over, taking in churches, museums, public areas and their neat arcaded walks. It's a nice town, tho nothing really stupendous hollers out, like Florence or Rome, etc. It is tho the food capital of Italy so have at it! Tortellini is one of their local specialities as I recall. Hope you enjoy your visit, email if you like.