I've got a room booked in New Orleans at the Renaissance Arts Hotel using C7J code at a rate of $95/nt. Rack rate is $219. I think I'm going to go for it as it makes no mention of ID required in the rate rules, it just says "CONTINENTAL AIRLINES". If questioned, I can just say I thought it was a rate for Continental frequent flyers. I'll just whip out my ancient and virtually unused OnePass card.

I noticed in the discount codes thread, it describes it as "C7J Continental Air specials" - no mention of employee specific. I have stayed at other hotels using SW8 - the Southwest code and have never had a question about being an airline employee, so I'm hoping that it's the same for this one.