I woulsn't recommend the Galway Bay as a 4 star. I was there last month and would put it at best a low 3 star.
I hear the park House Hotel is very good although I have not stayed there but my parents do on all there visits to Galway.
Hotels usually have good deals on 2 or 3 night breaks in the winter months just maybe need to check it on line.
We ate in a wine bar restaurant called Cookes while there and it was fantastic and very reasonable. Here's a link www.cookesrestaurantandwinebar.ie/
I stayed in the park place hotel a few weeks ago and it was very good and it would be hard to beat its location just off eyre square. The food there was lovely.I would recommend it
I stayed at the G hotel and the cocktails are very good. The only problem I had was their minestrone soup was rubbish (chopped veg in a watery base, no tomato base, no herbs, no spagetti!).
Got it on a deal over the internet, so it worked out very cheap.