There's also another place not too far up the street, used to be a Loews, I think now it's called Merigot?
The Loews is still there:
http://www.loewshotels.com/en/Hotels.../Overview.aspx
Le Merigot is actually a different hotel next door - a JW Marriott
http://www.lemerigothotel.com/
To the OP... agree with the comments that Shutters and Casa del Mar are more places to be seen then the best place to stay for the money. I usually direct out-of-town guests to the Fairmont, Ambrose, or Sheraton Delfina, but had one uncle and aunt who insisted on Shutters. Booked a room for them through the Leading Hotels of the World (LHW) website (so they would receive my Leader's Club benefits) - did not get a better rate than I could from other sites per se - but they did treat them very well (i.e. came through on an upgrade). And my aunt did really enjoyed her stay there. LHW also has the additional night offer for some of its properties - though not seeing it for Shutters.