If you don't need to be in the Anaheim area, the Westin South Coast Plaza is quite nice. On weekends, you can usually find discount rates through AAA or Expedia, Travelocity, etc. for your price range. It is mainly a business hotel, but on weekends there are shoppers (South Coast Plaza, an upscale, indoor mall, is across the street, and Fashion Island, an upscale, outdoor mall, is not far away), theater goers (South Coast Reperatory and the Performing Arts Center are just next door), and non-business visitors enjoying the surroundings. There are good restaurants close by, Newport Beach and Laguna Beach are not far away, and there is a shuttle to Disneyland, too.
Have you looked at the Four Sisters properties? There is the Blue Lantern Inn in Dana Point, close to Laguna. Valentine's Day will send rates way up, but other times in Feb. may be low season for them.