I haven't been there yet, but I am going to Beijing during the first part of September. I am staying at the Marco Polo Hotel. They are very close to two subway lines, and about a 15 or 20 minute walk to the major tourist attractions. They get excellent reviews in tripadvisor.com. They also have a rate of $110 on their top floor continental club, which includes express check-in, guaranteed late check-out, breakfast, evening drinks, etc. etc. All the reviews I have checked at a number of travel sites including those on here speak very highly of the hotel. I will report back when I return.

Don't use regular discount sites on the web. They are all more expensive than the direct hotel website which is (I believe) marcopolohotels.com.