On first glance the Waterhouse, a member of Design Hotels, is almost nondescript. Just a few steps away from the new “in” area of Cool Docks, the rough gray concrete façade faces the south Bund. Architects Lyndon Neri and Rossana Hu of Neri&Hu preserved the basic structure of the former Japanese military base. They created new clear rooms while emphasizing the beauty of the old. The open structure encourages fascinating perspectives from various angles.