The Manila Hotel is know in the city as the place where important visitors "and diplomats" stay. And they make you feel that way. There are dozens of workers in the lobby who are all very friendly, from the front desk workers to the young man who presses the elevator button for you. The feel is pre-World War II, when the hotel was one of the greatest in the world (and MacArthur's home and headquarters). It's no longer among the world's best, but if you like history and a unique place to stay, this is it. The lobby is busy with a range of travelers and on weekends, multiple wedding parties (it's a popular spot for weddings and receptions). There's a bar usually with a band in the evenings.
Did not try the Champagne Room, but the regular restaurant is wonderful, for breakfast, lunch and dinner. The buffet offers blend of FIliipino, American and international food. (I did have trouble with service when I sat alone... a cultural thing?)
The hotel's location is also great, and there is always a line of taxi drivers waiting to take you anywhere you want to go. Be sure to ask for a tour of MacArthur's suite before you leave.
One note: with the closing of the US military bases and the recent violence against Western visitors in the outlying parts of the Philippines, there are not many American tourists in Manila these days. So when they find out you're from the USA, they'll treat you like royality!