On the first night of my stay I woke up with about 5 bugs (looked like bedbugs) in the bed and some bites. Mgmt apologized and switched my room. Other than that the hotel was very nice.

It's OK. The pool is tiny and if you don't get down there early there is nowhere to sit. It is also a stopover hotel for aircrew..need I say more. Room service is actually quite good, and the food is better than average. After visiting the city several times over the past 3 years this is definitely one of the best hotels but it is also more expensive.

The hotel is a 5-star hotel but the walls are so thin that I keep hearing my neighhours talking. Friends who stay in the hotel same period experience the same.

Otherwise, all amenities and furnishing is just like another 5-star hotel. Location is also not great, unless you are working in the financial district.

The Intercontinental is a very good business hotel in the very best part of Sao Paulo. I stayed two weeks on business, had several rooms and suites for guests, and made heavy use of the conference room facilities, business center, restaurant, bar and gym. My guests and I expected, and received, first rate service. The hotel staff is attentive, helpful and (mostly) multilingual.
The rooms are comfortably furnished and relatively quiet, with one minor caveat - - the Intercontinental is the hotel of choice for the crews of several international airlines (a bus drops off a load of pilots and flight attendants every morning); some of these folks can't possibly adjust to time changes and jet lag, and so there can be some television noise and room service deliveries at odd hours of the night. Only one of my guests commented about noise.

The work-out facilities are the best in town. There is a modest fee, well worth it.

Restaurant service is slow, but the food is quite good.
The Intercontinental isn't as new, and the rooms and conference facilities aren't as large or as nice, as the Hyatt's. But the Hyatt is a bit location-challenged, in that you need to take taxis to see or eat anything outside of the hotel. In contrast, the Intercontinental is in the middle of the best neighborhood in Sao Paulo, one in which even the relatively cautious can feel reasonably safe.
There are literally dozens of excellent restaurants within a short walking distance. [esp. La Caballeriza (Argentine steak-house, next door); Massimo (superb, remarkably beautiful, and rather expensive Italian, a few blocks up the street)]. The art museum, MASP, is also well worth a visit and just a short walk away (the Sunday antique fair on the plaza under the elevated museum building is also very worthwhile).