Hanover St. is in the North end, so you'll prolly want a hotel in that area, unfortunatly most in that immediate area are expensive. The best deal would prolly be the Marriott Long Warf. I did a quick search and it looks like $199/rm and you'd need 2 rooms for 8 people. Looks like it would be about $50/person if you went that route. Its a very nice hotel, I've stayed there a couple of times long ago. Its right next to the aquarium and within walking distance of fanuel hall and the North End.
As for restauraunts, there's one that Kim and I go to all the time. It Georgio's LaFamilia in the north end. Its not one of the expensive fancy places, but real good Italian cooking! Its on Salem St. which runs parallel to Hanover St. If you take any side street off Hanover heading north, you'll hit Salem. Don't forget to hit Mike's Pastries on Hanover afterwards for a conoli!!!
Hmmm, all this talk makes me want to make a day trip sometime!!