I have lived in Port Moresby (POM) for a few years and also travel there often. I am often asked about "what hotel is the best value for money". The answer is simple - "Paddy's Hotel".
Hotels in POM tend to come in two forms - Very Expensive or Very Cheap. The expensive ones are fine but cost always outweighs the value. The cheap ones are (well for most people) very bad. Paddy's is one of the very few hotels (and the best one) that is quite good without costing a small fortune.
So if you want luxury, stay at Airways; if you want convenience to town, stay at Crowne or Grand Papua (or Ela Beach Hotel); if you want fun, stay at Lamana, if you are there long-term, stay at the Holiday Inn; but if you want value, stay at Paddy's.
Hope this helps