The Holiday Inn is a good choice and a great value for downtown Toronto. My room was small but had everything I could want including a comfy bed, TV, mini-fridge, safe, a clean bathroom and FREE WIFI!
The hotel has a small but decently equipped gym and a good coffee shop on the ground level. Next door is a supermarket where you can pick up snacks and ready-cooked meals, and it's a quick walk to the subway.
As long as you're not expecting luxury, you'll be very happy with your choice to stay here.