In Shanghai there are only 2 hotels at which I would consider staying.
1. Hyatt. This is over in PuDong (other side of the river), but would have to be one of the most amazing hotels in the world. It occupies the top levels of the the Jin Mao building which is around the tallest building in the world. Everything about the hotel is just amazing. Just beautiful.
2. Peace Hotel. Now this one is a little different. It is one of the oldest and the most famous hotel in Shanghai. It's not exactly 5* material but it has more character than just about any hotel I have ever stayed at. It is a real Chinese experience, and I would recommend people spend 1 night there if visiting Shanghai on holiday. You cannot beat the location of this hotel. Right in the thick of things on the Bund. But be warned, things happen very slowly at the Peace Hotel. I wouldn't stay there again (once is enough), but I really enjoyed the experience of this hotel.
Next time I am in Shanghai I might check out the St Regis, but it would take a lot to get me away from the Hyatt.
MD