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It's a very small city, so anywhere on the peninsula will put you walking distance from everything. The Old Port and the Arts District are where you are going to find most of the shopping, dining and entertainment.

I'll post a link to google maps at the end. The old port is roughly between the following streets Commercial, Congress, Franklin and Temple.

The Arts District runs along Congress Street from about Temple to a little past State Street.

You can see on the map there are 6 hotels on the Peninsula. Of those 3 are around the Old Port, 2 are around the Arts District and 1 is really nearing the edge of walking distance.

http://maps.google.com/maps?f=q&hl=en&geocode=&q...
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