If you're looking for a unique China experience with lots of local color and character, this is the place. Great atmosphere, excellent service from a friendly and efficient staff, and central location.
It's located along a narrow alley, so be prepared to walk some and don't be surprised if taxis refuse to take you at doorstep, especially on rainy days. The nearest subway station is about 10 minutes away, from where you can reach most destinations in the city.
Rooms were smallish but comfortable and appropriately decorated/furnished. The central courtyard and fountain added to the pleasant atmosphere.
Breakfast buffet was ok, though perhaps the presentation could emphasize quality over quantity. The lounge/bar is well-appointed though pricey for the area, I think. There are many interesting food places nearby if you're adventurous enough.
Only snag was that I wanted to settle in USD, but the machine kept converting it to our local currency (PHP). The hotel staff were always friendly and helpful.