Milan has many hotel options. You just have to find one within your budget.
I stayed at the Hotel 5 at Corso Lodi 4, after reading about it as a good value. This is small 3 star hotel, with contemporary rooms, a friendly and helpful staff and a good breakfast in their small breakfast room. It is a block from the Porta Roma Metro entrance so it is easy to get to the center in three stops. The surrounding area is a younger neighborhood with many cafes an restaurants
I also checked out the Maison Borella, a four star hotel along the canals in the hip Navigli neighborhood at Alzaia Naviglio Grande 8. It is a lovely small boutique property.
Others to check out are the new Bulgari Hotel and the new Armani Hotel. If in your budget, The Town House Eight is a five+ star, super-luxe property with 26 suites above Prada in the Galleria Vittorio Emanuele II with butler service and a Bentley as a house car.
The Excelsior Hotel is a luxury hotel with a full spa, included on Wallpaper* Magazine’s ‘Best Urban Hotels’ list.