This hotel is located a couple of hundred metres from the bund and a 10min walk (at the most) to the East Nanjing road metro, making it a great location from which to explore shanghai. We stayed twice in April, and both times the rooms were of a good size, clean and included a refrigerator which was useful. Only gripe was that the shower drains could have done with a good clean to help the water drain away more quickly.
The hotel staff we met didn't speak much English, but were helpful where possible.
If you are looking for a budget hotel with a good location and don't mind going without fluent English speaking service then I would definitely recommend hotel Elangrace (or "Elegance" as per the hotel signage)
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