I have stayed here five times this year during my trips to Shanghai. I just cannot see paying prices at the 5 star hotels even though my company pays the cost. I rated it a four star based on value, not necessarily like a four star hotel. You are close, twenty minutes to good shopping areas and subway. Your best bet for booking is to use elong.com as they seem to get a better price than direct to the hotel. I paid 350RMB for single room but friend paid 288RMB for same single room. For 500RMB you can get a larger room, which is needed if more than one person is staying. Breakfast is 25RMB but so so. The restaurant has good food for dinner but I find the little places down the street have much better food at local prices. Overall, you can sleep in well and save your money for shopping. I intend to stay again on my next visit to Shanghai.
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