Peninsula hotels are very famous in the world and pretty expensive too. But, I found this one very cheap on orientaltravel.com site. It was around 120 USD, or something like that. I don't remember any more. Rooms were great, but there was no view...Hotel is excellent, on reception floor and two floors down is a luxorious shopping centre with all designer shops...
I am sure Peninsula is one of the best hotels in Beijing...

The staff is great; rooms are fine; service is excellent. The shops in the hotel "ain't" bad either.The location is convenient for sightseeing. We just like the hotel!!

fabulous trip to Beijing. The level of experience we expect from the Peninsula was delivered - and more. Very friendly staff. We ordered for some Yang Zhou fried rice at midnight (an hour after the Cantonese restraunt had closed), but the friendly man on the other end of the phone got hold of someone from the overnight dining kitchen who made a variant of the fried rice (he admitted it wouldn't be "original") which was very good!!

overall very well appointed hotel, great spa, good pool (though heated, but temp. should be kept higher than it is) and very prompt service (housekeeping as well as in room dining)

This was our first Peninsula and we had been warned that it wouldn't match up to the lofty standards of its sister hotels in New York and Hong Kong. We don't have that for comparison but we did compare it against our stay in the Four Seasons in Shanghai and the Peninsula beat it marginally despite it being a lot older. The staff was genuinely friendly and we appreciated the guest officer taking us on a mini tour of the room. We loved the amenities provided as well as the bathrobes and bed. There was a wide variety at breakfast, sufficient to satisfy any craving, and we really felt welcomed everywhere we went. We had afternoon tea at the Peninsula (provided as part of our Winter Escapade package), which was good, although not quite as glamorous as its Hong Kong counterpart. One good thing about the hotel is that it provides complimentary high speed internet access in its rooms - high time other hotels followed its example and stopped charging an arm and a leg for internet service. We wouldn't hesitate recommending this property to anyone.