Not a whole lot of flair but the price is fair at Fairprice.  This budget-friendly hotel offers apartment-style rooms with a well-equipped kitchenette, private bathroom, satellite TV and free WiFi.
Fairprice is located in the Gallus district (about 3 km west of downtown Frankfurt) close to the Galluswarte train station.  The city centre and the gay venues can be reached within 10 minutes.