Hi, it is convinient to go from hangzhou to huangshan. There is no need to take train as the long diatance bus is very convinient. You can take the bus in Hangzhou West Bus station. The earliest one is 7:20, which is also the cheapest one (60 cny), there are still three runs, but the price is a little higher (80--90 cny). As for the hotel, there is a three star hotel called yungu hotel in huangshan, it is about 50 USD per night. As for shanghai's hotels, please look at this site, there are a lot of good hotels with cheap price (about 30-40 USD). You can choose whatevre you think is good.
By the way, it is summer holiday in China now and there are a lot of people going out for traveling. Thus it is advised to book a hotel, ticket in advance.