Concierge.com's insider take:

Closer to Tiananmen Square and the Forbidden City than any of the city's other top-end hotels, the Raffles occupies a Beaux Arts–style building with a long history. Opened in 1917 as the Grand Hotel de Pékin, it witnessed the upheavals of the nation, from the glittering travel era of the 1920s and '30s to the communist party's heyday of the 1950s and '60s (when, known as the Beijing Hotel, it was popular among cadre leaders). Taken over by the Raffles chain and fully renovated in 2006, the hotel now has a marble lobby whose soaring ceilings are hung with sparkling chandeliers, and interiors that combine old-world opulence and new-China glitz. The 147 rooms and 24 suites range from over-the-top splendor (the State Building rooms, with their gilt, marble, and draped canopy beds, are Louis XIV–meets–Las Vegas) to sedate and modern (the Executive units, geared to no-nonsense business travelers). A fitness center and pool, 24-hour valet service, and Wi-Fi contribute to the sumptuous atmosphere.