I stayed in this hotel for 5 nights with my parents and wife.
The hotel location is excellent. You can go by foot to Tiananmen Square, Forbidden City, Behai Park, Wangfujing shopping street, etc. We even came back by foot from NanLuoguXiang hutong but that one was quite a long walk. Subway is a 10 min walk (not so near with a lot of luggage).
Some of the hotel staff speak English, and that alone is a good plus. The hotel is a bit old and worn out but the staff keeps it as clean as they can. The rooms are ok with a little more space than usual hotel room. Toilet papers get changed so no issue there (it's just that the rolls are smaller than normal).
As like most hotel of this kind, noise is a problem. Fortunately, our rooms were at the end of the corridor so it was ok. Breakfast was ok for us but there wasn't that much choice. For food in general, I suggest you eat nearby. You can find good restaurants in the shopping malls of Wangfujing. For instance the Oriental Plaza Mall is directly connected to the subway and has a lot of restaurants (the shanghai food restaurant is good).
The activities office in the hotel can arrange your trip in and near Beijing. I suggest you avoid the Beijing tours unless you plan to stay for the day only and wonder how to visit the main attractions as fast as possible. Take half day for the temple of heaven, half day for the Forbidden City and a full day for the Summer Palace. However we booked the tour to the Great Wall and the Ming Tombs.
In room Internet access was good but Ethernet only (cable afforded). WiFi only works at the lobby in front of the reception and speed is ok (skype call without problem).
All in all, it is a great place for such a price. My parents booked the same hotel when they came back in Beijing 2 weeks after and they appreciated it (and they came back again this week-end !).