I visited this hotel in November 2011 for a business visit.
The Good

1) Excellent location in the heart of luohu just off renmin nan lu which has a bunch of restaurants and a good shopping center.
2) close to shenzhen railway station
3) Very close to Guomao metro station
4) Reasonably priced

The Bad

1) The service leaves a lot to be desired. When I checked in I asked for a new room (as i had read the reviews on trip advisor). The lady said ok let me select a good room for you and then gave me a dingy old room. This is definitely not done. Then i left for work and on my return i decided that if I didn't get a better room i would check out. I was then given a new room which is far better than the old one. But to my surprise i was asked to pay RMB 50 extra. On enquiring i was told that since i had USED the room for 2 hrs I had to pay the charge even though i was shifting to a room which was equivalent in price. This was because i had DIRTIED the room. After explaining that i had just put my bags in and left they finally agreed to waive off the charge after inspection the room.
2) The bed is as hard as a rock (but this is common in China). If you want a normal bed i suggest to book in a western chain as you will be assured of decent amenities.
3) They would not even accept a package on my behalf when i was out and had to call my business assocaite back at a later time to deliver the same.
4) The internet connection was very very slow

If location and price is your criteria this place will be good for you but if service, internet and bed comfort matters then there are better options like Days Inn shenzhen where I had stayed on an earlier visit.