If after a 2 week hiking tour you also want some level of comfort, there is a hotel called Royal Plaza, it is in the south side of the city in a quiet and (as far as I experienced) safe neighbourhood, called Colonia del Valle. It is right at the Avenida Universidad. This is not a tourist area, more a somewhat upscale residential and business area, with some big shopping malls, cinema's etc. around there. However, for going to the city and to the zona Rosa areas etc. the subway stations are close by. There are some nice museums and also nice neighbourhoods close to the hotel.
The hotel has good weekend special offers: 3 nights (Fri-Mon) for the price of two. For a BIG suite with a HUGE jacuzzi (!) you will pay around MXP 2,100 for the 3 nights, including breakfast on saturday and sunday, as well as some goodies like welcome cocktail, tickets for 6 flags etc. The hotel itself is clean, well organized, the staff is service oriented. Just keep in mind that it is more like a business hotel.
Last year when I stayed there I posted a review on Tripadvisor, so you can find more information there. Once again, I have no idea if this hotel is your cup of tea, but I thought it meets the requirements you mentioned.