The Minzu Hotel (Beijing Minzu Fandian) opened in 1954 and is situated in a mixed business-residential neighborhood within walking distance of Tiananmen Square and the Forbidden City. It's a great choice for certain kinds of travelers, namely those who prefer to be close to, but not in the midst of, tourist central and who don't mind a few rough edges in exchange for enthusiastic service. The hotel's been busy renovating (they may be done by the time you read this), so some of those rough edges may have been smoothed out recently, solidifying its four-star rating.
You have a range of options, from standard/deluxe rooms, superior suites, executive suites, deluxe suites and executive floor suites for the business travelers. Five in-hotel restaurants serve regional Chinese and Western food; one favorite is the Turkish barbecue, serving up the occasional belly dance along with the kebab. The Four Season Restaurant is the strongest of the Chinese restaurants, offering Huai Yang, Sichuan and Shandong dishes. There are also numerous dining options in the surrounding streets.