Yes, I'd say the Hyatt would be a good bet. I stayed there a few months ago, and actually paid less than your limit of $120. I think I used priceline and bid the price. You might want to try that. The Hyatt is a few blocks south of the Sprint Center (great view of it from our room at the Hyatt), but you MAY be able to find something around $120 even closer to the Power and Light District, although I know rooms in that area tend to be on the more expensive side, especially if there is a sell-out concert or sporting event that night.
The sprint center is epic!!! and stay close to the power and light district.
I would go with the Hyatt downtown - it's really nice, large, great views.....but not too expensive.
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