I wouldn't call this a "new hotel", but nevertheless, it's a nice experience. For me it's not a luxury resort, but akin to perhaps the FS in Palo Alto. Nice property, conveniently located for business in the valley and decent to good service and facilities.
That said, I think their restaurant is fantastic, especially for a work lunch. The view in the summer over 280 into the hills (the highway is somehow invisible) is fantastic on the outside terrace.
Seconding Mike on Thursday night for the cougar scene. Single women going after rich Silicon Valley VC's, lawyers and startup management. YMMV. ;-)