Shanghai is historically a place where people from all over the world came to make their fortunes. Far more lost their shirts than stocked up on gold bars, but Shanghai's decadence and capacity to soak up every last Taipan's dime is not lost on travelers today. It's easy to spend a fortune in Shanghai shopping and eating. So why not save a few dollars by choosing accommodation that puts you in the heart of the city, but saves you money to spend on other pursuits?

Anting Villa Hotel
The Anting Villa Hotel is in an old mansion in the heart of the French Concession. It's on a quiet street, so you can escape the craziness of Shanghai traffic, but still be within reasonable walking distance to Heng Shan Road metro stop. Heng Shan Road itself has a number of good restaurants and bars to choose from.

Captain Hostel
The Captain Hostel is in a 1920s art-deco building within walking distance to the Bund, Nanjing Road, People's Square and Yuyuan Garden. With "Special-Class" for those with a higher budget and "Sailor Bunks" for backpackers, the hotel can serve all types of needs. Visit Noah's, their rooftop bar that affords a fantastic view of the Huang Pu River, the Shanghai skyline and Pudong.

City Hotel Shanghai
City Hotel has a fantastically convenient location, downtown walking distance to Nanjing Road, the French Concession and Huai Hai Middle Road - all the best shopping and walking. It is also a short cab ride to the tourist spots such as the Bund, People's Square and Yuyuan Garden. While not much to look at outside, the rooms are well-fitted and the hotel has good facilities.

Old House Inn
If you want to stay in the French Concession and get a feel for life as a Shanghainese, then the Old House Villa couldn't be a better spot. Housed in a typical lane house, the hotel is small but quaint and full of character. One of Shanghai's hottest restaurants, A Future Perfect shares the garden, so you won't have to go very far for lovely food or a drink on the patio.

The Pujiang Hotel (The Historic Astor House Hotel)
If you want to stay in one of the most historic buildings the most famous district in Shanghai, then the Pujiang Hotel is the right choice. Minutes away from the colossal buildings on the Bund, the old Astor House, was at the time of its building in 1846, the most luxurious hotel in Asia, having had the first light-bulb in China. Now it hosts budget-conscious travelers who want to experience historical Shanghai.