I visited Shanghai some time back with a tour group and stayed in this hotel for 3 nights. It's not too bad a hotel, with all the basic ammenities. The room furniture's decent, though I wouldn't say they're very new. Rooms are clean. One thing good about this hotel is a room can have 3 beds and yet still be spacious. (the 3 beds are all in built)
The hotel's greatest advantage is it boasts a superb location - very near to their most famous attractions, Shanghai Bund and also not too far away from Nanjing Street. (although I must say, the immediate buildings you see from the entrance of the hotel are somewhat older buildings) If you're lucky, you can even see Shanghai's city skyline (including the Oriental pearl tower) from your room. For food, I only managed to have breakfast there. Not much variety but still quite decent. I'm not sure of what entertainment facilites the hotel provides and whether there's internet because large amounts of time was spent outside. Service was average, staff were quite courteous and helped us take care of all our baggage despite checking out of the hotel (I had 1 day extra before I departed for Pudong airport)
I would especially recommend this hotel for those tourists who are on a budget/ looking for a decent hotel just for sleep. The cost for staying there isn't very expensive, yet it's relatively near to the city centre which makes it easy to get around.