Stayed here the last week of December 2011. For a Sheraton hotel, even if it's the more budget-conscious 4-points, it's below standard. Not sure how it is in the summer, but it is winter, and they do not heat the hall ways at all. On the one hand, I can understand energy conservation since the hotel is not swarming with tourists, but OTOH, it's really really cold for those of us who are guests in the winter season. The rooms are warm because the guests can adjust the temperature, but the room floors are not carpeted, so the floors are very cold, and it's uncomfortable to walk around in the room. The rooms are very no-frills, and not cozy and not comfortable for a relaxing night upon return in such a cold and dry climate. Toilet seat is very cold to use in the middle of the night. It being off season, when I turned on the bathroom sink water facet when I first arrived in the room, very rusty water came out.

I asked for a humidifier, which they promptly provided, but it's a cheap kind that makes the floor all wet if you turn it on max power. Overall, there's just no place in the hotel where you can get comfortable, not in the room, not in the lobby which is very small, not in the restaurant which is more like a canteen, and definitely not in the freezing hallways with draft of wind coming in from the windows.

There is only 1 restaurant. Food is so-so. Breakfast is mediocre. Dinner they serve a buffet with lots of seafood (clams, oysters, shrimps), but one doesn't come 4 miles above sea level to eat seafood. I'm a vegetarian and even i couldn't help thinking that the seafood was probably not that fresh to eat. One might eat here just for convenience and to not go hungry, but not a culinary experience for tourists.

But everything is relative. During our visit we saw lots of Tibetan nomads on their pilgrimage. These are true high plain farmers and nomads who live in places with very little access to water (so their clothes are not frequently washed and bathing is rare, and toilets are not common) and whose skins bear marks of extreme exposure to the sun and the elements. This is how people of this region live, and it seems very frivolous to complain about the poor quality of the hotel conditions, which may be unheard-of luxury to many of the native nomads and tribal people of this region. When the locals can make do with so little, it's hard to not feel like spoiled, sheltered jerk to talk about how the hotel facilities and amenities are not good enough. But there is no other way to pass on information about the inadequacy of the hotel conditions to people considering spending the money to stay here.

On the plus side, the staff are all very helpful, and speak good English which is great for foreign travelers.

When you decide to travel to Tibet you're willing to let go of slick big city expectations. I booked into the Sheraton because I was traveling with my mother and wanted to her to have some western comforts. I shouldn't have bothered I think any Tibetan Inn would have been more in tune with our needs. The Hotel reminded me more of a run down 3 star convention centre. Having said that, our room looked newly renovated and was very comfortable.
The hotel is in a back lane the front entry looks more like a back entry, an odd position but it's located quite centrally, the Lhasa square is only about a 10 minute walk from the hotel. I didn't find the staff helpful in fact I struck a few surly ones especially in the restaurant. They speak little english but given it's mandatory to have a guide in Tibet if you're a tourist translation help is thankfully always at hand whilst he's with you.
The buffet restaurant is situated outside the building across a courtyard with no undercover access to it, unusual in a place that can be very cold. The breakfast was adequate but the buffet dinner was boring, we ended up trying a place around the corner. I think it was Chinese or Japanese, very elaborate and no english speaking staff (and our guide wasn't with us) but we had a fun evening thanks to the iphone apps Translate This with the curious staff who were just delightful.
Loved the experience of Lhasa as sad as it was in many respects, would stay elsewhere next time I visit.

The 4 points is an ok option for Lhasa. It is well located in the middle of the city.

Rooms are good, and the buffet for breakfast and diner offer a good value for what you pay. It is unfortunate that you have to go outside to go to the restaurant. Wouldn't mind if it there is no winter. Can get chilly outside.

Staff spoke basic English only, and was difficult to get understood. I did not get any room upgrades despite my status and the fact that the hotel was quite empty.

Corridors were cold with odours of fuel.

If you can afford it, go to the St-Regis!

Stayed here in May 2011 as part of a tour group. Older facility. Clean but with a unique odor. Back-alley neighborhood location. Staff and service were both excellent. Dining facility was clean with adequate buffet choices. Hard floor in room made for a noisy environment. Within walking distance of many tourist sites. Would not stay there again.