My arrival at the Shearton was late (past midnight) thanks to the French Air Traffic control strike. Upon check in I was told that they had food available, were keeping the bar open and I could have a late check out - because they appreciated people were delayed by the aforementioned strike. Now that is good customer service.
The rooms are a good size, with clean and functional glass fronted bathrooms (don't be put off by that statement...they look good). There is a full black-out blind and no noise. You WILL sleep.
The top floor has a panoramic bar that looks out over Lisbon - very nice!
Whilst there is not to much around the immediate vicinity of the hotel, the restaurants and bars of Lisbon are a few stops away on the metro (the station is across the street) - or it is a €5 taxi ride.

Stayed 22-24 Jun.14
Newly revamped and modern hotel. Rooms are great and provide for most needs. I found the bath & shower combo not good for 5 star hotel. Also the plug of the bath was not working so the only option was to shower while standing in the bath. Separate shower is expected from such a luxury hotel.
The bathroom "walls" and doors are from glass. The WC is also shielded with a sliding glass door which does not provide the privacy that is expected from a WC.
WIFI in the rooms are not FREE - free seems to become the standard and I found it disappointing that such an expensive hotel the WIFI is not included in the room rate.
The paper cups at the in-room coffee station were a surprise. I did not think 5 star hotels keep those in stock.
Most disappointing were the limited breakfast seating - waiting in line for breakfast at 5 star hotel is not fun. In addition to this the only egg available was scramble eggs (of which the morning of 24 Jun was horrible watery) - no fried, no poach, no boiled, no omelette. Breakfast reception staff was friendly, the rest of the staff in breakfast room were not friendly at all.
Overall - apart from the new luxury, nothing to get excited about.

Three day business layover in Lisbon. This SPG property is just grand! Staff is most gracious, polite and helpful. Room is modern, well appointed, spacious and comfortable. There are no ancillary sounds...so privacy and rest are absolute. Right in the center of town and about 15 minutes walk to the river. By choice, breakfast was not included in my plan, but I had it anyway. Perhaps a bit pricey, but worth every farthing. Splendid and varied selection of meats, cheeses, glorious breads, juices, fruits...if it wasn't out there you probably didn't need it. This was my 5th or 6th trip to Lisbon as well as my 5th or 6th hotel. This will be my "go to" hotel from now on.
Obrigado!!!