I stayed at the Thompson shortly after it opened, so I was shocked to be able to stay there for under $200/night. The staff was over the top friendly from the time I was dropped at the front door as I was whisked to the check out counter and given the details for my stay.
My room was extremely modern, clean and had a view of downtown Toronto which made me very happy - since it was my first time staying here. Since the rooftop bar seemed to be all the rage, I had one of my co-workers meet me there to see what the fuss was all about. The view is GORGEOUS, it was a clear night and you can literally see all that Toronto has to offer. Our server was very cheerful (but aren't all Canadians?) and kept making sure our drinks were full while we enjoyed the ambience.
There are a bunch of shops and the like within walking distance as well, so this is a great place to stay if you are heading to TOR.