Travelers to Ulaanbaatar, whether for pleasure or for business, are likely aware that the quality of accommodations generally are not comparable to those in other major cities. This will likely change with the opening of a Shangri-la Hotel later this year, but those travelers expecting perfumed foyers, attentive greeters, marble bathrooms, and in-room safes should avoid Ulaanbaatar altogether for now.
The Ulaanbaatar Hotel is perfectly located just to the east (3 minute walk) to Suhkbaatar Square and right next to Central Tower (the new, Class A office building with well appointed restaurants and a nice top-floor bar). It is also within walking distance to the stock exchange and most of the offices of the major mining companies. Every area of the hotel would benefit from refurbishment, but the rooms are generally clean and the service is professional. Expect the standards of an aging highway motel, and you will not be disappointed. There is wired, high speed internet service in the room, but do not expect business center services. Some things cannot be avoided (this was also the case at the Chinggis Khaan Hotel as well). First, the hot water pressure is spotty. Prepare for lukewarm showers. Second, be prepared for the air conditioning in the rooms to not work. My trip was in May, so the weather was pleasant and the air conditioning was not necessary, though it would have been helpful to air out the room. Prepare to make do with an open window and a large electric fan (helpfully provided in the room). Bring allergy medication if you suffer from hay fever, as some of the rooms are dusty and a bit moldy from water damage. Third, if you return to the hotel after midnight, there is a limited amount of, uh, professional activity in the small square directly in front of the hotel. Nothing sinister or threatening or remotely unsafe, but it is there. Fourth, as another reviewer stated, one would have low standards and no sense of adventure to eat any meal in the hotel other than breakfast. Breakfast is passable, albeit with a focus on vienna sausages. Central Tower has a few Western friendly ones. There are also a number of local restaurants in the streets intersecting Peace Avenue and Seoul Avenue. For the unadventurous, just go to the Great Khaan Irish Bar (seven minute walk southwest of the hotel). It feels like the expat center of Ulaanbaatar, with good beer and a varied western menu with the expected pub food.
Alternatively (this is what I recommend), you can walk north on the street that abuts the hotel's eastern entrance. The street winds past a number of university buildings and past a number of local bars and eateries (Korean, Indian, Mexican are all available). The best nightclub, Brix, is also on this street. It seems that many of Ulaanbaatar's young professionals (the kind that work in offices!) congregate here after midnight. There is a pleasant local pub with outdoor benches about 800 meters north of the hotel on the street. Further down that street (on the opposite side), there is an open air French restaurant that seems to attract a mix of university professor types and expats.
In short, stay at the Ulaanbaatar Hotel for the location. The traffic is so bad in the city, that it is best to be centrally located within walking distance of your meetings. I would stay there again myself.
This review is the subjective opinion of a TripAdvisor member and not of TripAdvisor LLC