One of my favorites downtown is the Talbot St. Inn. Very reasonable rates too!
http://www.talbotstreetpier.com/talbotinn/. It is located on the bay so you will have beautiful views and it is only a few blocks from the Boardwalk. A quick walk to The Cork Bar, The Pour House, Pickles Pub, The Bearded Clam, The Harbor Inn, The Purple Moose Saloon and Shenanigans. Don't forget if you want to visit the bars in midtown such as The Mother's Cantina, the Sandbar, 28th St. Pit and Pub, Buxy's Salty Dog Saloon, Johnny's Pizza and Pub and Seacrets and further uptown like The Greene Turtle or Hooters, The Bus is the way to go. Only $1 per ride or $3 for an all day pass.