I stay here weekly. First, the title +location information is WRONG. The hotel is nowhere near Renmin Square. It's at a great location though, on Julu Rd, between Ruijin +Maoming Roads, about equidistant between South Shaanxi Road + West Nanjing Road metros. It's 10 minutes walk to either metro and from there you can quickly access all of Shanghai's attractions.
It's an old style hotel, with some charm, but very run down, and things are often not working. On different stays, there's been trouble with either heating, hot water or wifi. There are the standard issues with Chinese hotels: smoking everywhere, including in the lobby, escort cards under your door, a complete absence of window cleaning and sometimes (not always, some are helpful) surly staff. If these things shock you, good luck avoiding them in this country! But, on the whole, the location and a little deco charm do the trick.
IMPORTANT: Some sites will show this hotel with an option for "Room with Windows". Be aware that only the 3rd tier "Business" option has windows with street views. The 2nd tier "Room with Windows" will get often you an internal room with a window onto a lightless shaft and wall.
NOTE: There's currently construction work opposite which may annoy those who want to sleep during the day.