Peace Hotel (Nanjing Dong Lu 20, Huangpu; tel. 021/6321-6888): Although this 1929 undisputed masterpiece of Art Deco glory today has service that fails to match its renown, the Peace Hotel is included here for its splurge-worthy "Nine Nations" deluxe suites, each decorated in the style of a particular country (including China, the U.K., France, and the U.S.). Staying here, it's easy to be transported back to a gilded age when you might have been a classy toff hobnobbing with the likes of Noel Coward and W. Somerset Maugham (who were just two of the luminaries who stayed here) in the house that Sassoon built.
Four Seasons Hotel Shanghai (Weihai Lu 500, Jing An; tel. 021/6256-8888): The best all-around hotel in Puxi, the Four Seasons is worth splurging on just for its patented Four Seasons bed alone. Oh, and the service is impeccable, the staff discreet, and your surroundings as classy as classy can get. If it's good enough for Tom Cruise (who stayed here when he was filming Mission Impossible III), it just might be good enough for the rest of us.
Grand Hyatt Shanghai (Shiji Da Dao 88, Pudong; tel. 021/5049-1234): Although this is not a personal favorite (even if the hotel is lodged in our favorite building in Shanghai, the Jin Mao Tower), many visitors love the novelty of staying in the tallest hotel in the world, and swimming among the clouds in a cascading "sky pool." Rooms are an elegant mix of East and West, and the 33-story cylindrical atrium and six international restaurants contribute to visitors' gasps of delight.
Pudong Shangri-La (Fucheng Lu 33, Pudong; tel. 021/6882-8888): The recently opened Tower Two is the place to be, with large luxe rooms furnished with LCD TVs, fax machines, DVD players, and all the usual luxury accoutrements. There's a ridiculous number of fine dining restaurants to choose from, two health clubs, two pools (one of them a glass-enclosed outdoor pool), the Himalayan-themed Chi spa, and still the best views of the Bund from Pudong.
St. Regis Shanghai (Dongfang Lu 889, Pudong; tel. 021/5050-4567): Its location in Pudong isn't ideal, but otherwise, this is as good as it gets with Shanghai hotels. What better experience than being pampered by your St. Regis butler, who can do everything from pressing your pants and making dinner reservations to acting as your personal tour guide about town? Rooms are large and luxurious, there's open access to the executive lounge, free wireless Internet, excellent dining options, and a top-notch spa. The way we see it, there's little reason to leave the hotel at all.