I love this property and have spent 13 nights there so far this year. The suites are fabulous and the lounge is great, I suspect like many properties this will be poor value on points, however it will probably be good value for cash, part of the problem the IC Westminster has had is that it has probably been pitched at too expensive a price point. I can't see moving to Conrad will help that and would expect rates to drop a bit.
It will be interesting to see what the Diamond upgrades are as this place has a history of being stingy with RAs.