Yeah, hotels everywhere are kinda expensive right now. More than I've ever seen it. Places that would usually be under $200 are $300+ right now. I understand seasonal differences but this is insane.
There's some reasonable hotels in Dubai, just stay away from the resorts and the beach hotels. Sheik Zayed Road has some economical ones. There's a Holiday Inn for $200. Holiday Inn's outside of America are better than the ones inside.
Although, I would highly suggest you take a hit and spend the money to stay at any one of the hotels owned by
Jumeirah International. Especially the Madinat Jumeirah.
You may be able to find a basic room for around $500-$700.
Also, the Park Hyatt is mighty nice. You will find ladies that are ready to party there. Le Meridian, Jumeirah Beach Hotel and especially the Mirage. The hottest clubs are in The Mirage and The Madinat Jumeirah.
Also, the Madinat Jumeirah has a full fledged shopping and dining area. It's like it's own city. If you stay there you won't have to worry about traveling much outside. Travelling around town is a pain in the ass if you didn't rent a car but there are shuttles from the hotel that will take you where you want to go. Make sure to check out all the business "Cities" as well as the traditional areas to the east.