Cheap and close to the monorail
I've stayed at the Cititel Penang before and thought it was fine, so booked 2 nights at the one in Kuala Lumpur. The rates were just as incredibly cheap as in Penang and I paid 120 ringgits for a standard room.
The Cititel KL looks a lot older than the one in Penang, but the room still had everything I needed - a soft bed, air-con, TV and a hot shower. The room was small but reasonably clean. Internet access is available but you pay extra for it.
The location is quite good and you can walk to Chow Kit monorail in a few minutes. The Petronas Twin Towers are nearby and you have a nice view of them when they're lit up at night.
The Cititel is OK for the price, just keep your expectations low.