There's a Holiday Inn Express that's not too far.($5 cab ride) or about a 15 min walk .
The walk is torture on hot days .
Phoenix is a desert after all.
I walked from the Holiday Inn Express in May for Penner's OT Winner in Game 5 and it wasn't bad. Passed through the Cabella's lot. Hotel was subpar though.
There are a bunch of moderately priced lodgings near the 10. Been staying at the Red Roof off of 51st and McDowell, about a 15 min drive to the arena.
Stayed at the Renaissance for the WCF, used my Marriott rewards points for the stay. Had a great time and cost me less than attending WCF games at Staples and that was including travel and food costs!