InterContinental is a very nice hotel (I've stayed there for conferences), but some of your savings will be gobbled up by cab fare or parking unless you plan to use the HealthLine bus (frequent buses... um, interesting late-night ridership).
http://www.riderta.com/schedules/rt65wk.html
The HealthLine stops on Euclid adjacent to the Cleveland Clinic, and the InterContinental is on the massive campus of the Clinic. Note that the Clinic is impressive and reasonably safe, but it is surrounded by some pretty rough neighborhoods.
I would consider the bus to get there, but spring for a cab on the way back.