Well, you could try Hotel Stripes which is newish and in the shadow of the Sheraton. I remember looking down from the Sheraton lounge and watching it being built.

Or the Renaissance is near enough to not be inconvenient. The hotels around Bukit Bintang (Westin, JW etc.) are more expensive and you could get snarled up in traffic though much better location for stuff in the evening. The hotels around Sentral (Le Meridien, Aloft) are inconvenient if you need to be at the Sheraton.

Personally, I'd stay at the Sheraton if the meeting is there given how KL traffic can be during peak hours. Maybe look at Hotel Stripes because it's walkable.