This beautiful hotel right on the banks of the Chao Phraya River was our home away from home for 4 nights in November of 2004. There are two different wings of the hotel, the main wing (called the Shangri-La Wing) and the Krungthep Wing, which is supposed to be a little nicer and fancier.
We got the original room on Priceline for $60 a night, (wow!) and then called in and upgraded to the Krungthep Wing for about $20 a night more - VERY WORTH IT!!!
Really, if you stay at this hotel, make sure you stay in the Krungthep Wing; it's amazing. Every single room has a private balcony that is over the Chao Phraya River, and sitting out there any time of the day is a true joy. The entrance to the Krungthep wing is directly next to the Skytrain station, which is by far the best, cheapest, and easiest way to get around the city.
The hotel can also arrange for a personal boat ride through the back canals of Bangkok, and that was wonderful; and they did it for a great cost, I think it was $20 total for all three of us, for about 3 hours. Fantastic. We also took advantage of their drivers service to and from the airport, which was a huge help to us, and a reasonable price.
Please contact me if you want anymore info on this great hotel, it was wonderful.