It's been a few years since I was there, but there are a number of reasonably priced places. I don't have any personal recommendations but this one looks like it could be good:
Small and friendly hotel with 12 rooms, nestled in a quiet and cozy corner of Mandalay's heart. about 7 years ago
I have just returned from Myanmar with very good memory about this counrty.
In mandalay, it depends on your budget:
2 star around 35usd, Mandalay View Inn is the best
3 star around 60 usd, Mandalay city hotel
4 star around 80 usd, Hotel By the Red Canal ( sister hotel of Mandalay View Inn)
5 star hotel, Sedona hotel, Mandalay hill resort.
about 7 years ago