I suppose it depends on whether you want to be downtown or not. Here are a few downtown suggestions:

Le Germain - Boutique Hotel - Downtown Toronto - Close to restaurants, and theatre. Shopping is not too far - about a 10 min walk at the most.

www.germaintoronto.com/

King Edward Hotel - Larger Hotel, also close to restaurants - located in the Financial District - Downtown.

www.starwoodhotels.com/lemeridien/property/overview/index.html?propertyID=1912

Soho Metropolitan Hotel - Downtown - Close to restaurants located in the Entertainment District.
(This one may have key-card access after a certain hour)

soho.Metropolitan.com

Four Seasons Hotel - Yorkville - Downtown Toronto- Lots of shopping and restaurants in this area - Yorkville and Bloor Street. (Rooms are a bit dated but a nice and central location)

FourSeasons.com/Toronto

Park Hyatt - Across the street from Four Seasons

parktoronto.hyatt.com

Hazelton Hotel - Yorkville - Also across the street from Four Seasons (Key-card access to rooms - not sure if all day or after 10pm) They also have a very good restaurant called One.

www.thehazeltonhotel.com

Fairmont Royal York Hotel - Located at the edge of the Financial District, across the street from Union Station. Big Hotel, nice rooms.

www.fairmont.com/royalyork/

-- Modified on 3/13/2010 1:20:49 PM

on my website I list a nice selection of hotels in downtown toronto. if that helps you.