Located near Wangfujing and Tian'anmen Square, this award-winning hotel has rooms with hardwood floors, Chinese rugs, elegant furniture and 42-inch plasma TVs. Its fusion cuisine and funky open-plan design have won Jing, one of the hotel's restaurants, favorable reviews. The Peninsula's shopping arcade is home to such fashion royalty as Dior, Chanel and Hermes. The hotel can also arrange hutong tours with a Tsinghua University professor and visits to unrestored sections of the Great Wall. RMB 1,388-50,000.