Overnight Layover in KMG

We (3 people) are traveling from USA to Nepal and have an overnight layover in KMG. We arrive at 11:20pm and our flight does not depart until 9:55am the next morning.

I see that there are 40 hourly lounges. What are the details on these and is there an inexpensive hotel nearby that we could get a room at for a nap? Which approach is recommended?