This is an actual hotel, not a youth hostel. It is located quite close to downtown and all the major attractions, say maybe a 10 minute taxi ride or 30 minute walk). My friends and I stayed here for about $40 a night per room, double occupancy.
It is clean and affordable. The restaurant located in the hotel has a fantastic dinner menu, although breakfast leaves something to be desired.
Guang Hua Dong Lu Chao Yang District Beijing Beijing China