I've stayed at the Beijing Conrad twice in the last year, liked it, and plan to stay again for two short stays in September.
I think my mindset is a bit different in a way that makes the hotel work for me. I travel with only a medium backpack, and like the fact that the Conrad is about two long blocks to the Huijialou subway station, which has two lines that easily reach anywhere. Also, easy to go from that station about two or three stops north to the airport express line.

As as Hilton Gold, I was invited to eat breakfast at Chapters, the lobby restaurant. No EL, but did not expect that.

Did drink once in the upstairs bar, which was OK. However, the rest of the time, if I had to eat nearby, I simply walked a short block north, and turned left (corrected) on the first street toward Saulitun (maps label the street "Baijiazhunang". Large number of decent and inexpensive restaurants catering to locals. If one wanted a more expat experience, I recommend Beer Mania, which is also walkable from the Conrad.

In short, the Conrad is a great value for the price.

If one is price insensitive and OK with taxing everywhere, then there is the Intercontinental Sanlitun. I stayed there nine months ago. Much more expensive, and very nice new room with first class restaurants. You just pay big $$ for it, and the neighborhood has some, lets say, adult attractions.