I personal suggest this.

CENTURY PARK SHANGHAI
Crowne Plaza Hotel
1433 MINSHENG RD.
CORNER OF YINGCHUN RD., PUDONG
SHANGHAI, 200135
CHINA

http://www.ichotelsgroup.com/h/d/cp/...l&crUrl=/h/d/6
c/1/en/availsearch&ias=y

Now this hotel is in Pointbreaks and can be get free night with 5000 points. You can buy these points at $12.5. so the total price for each night is 62.5$. The normal price is $170 per night.

But the location of this hotel is about 5km away from the bund. But take a taxi to there is below 5$.