Pudong airport to Renaissance at Yan'an West Road, Changning district.. is subway a good option?

Yes, subway shall be a good choice. If you also wanna experience the Maglev (for you post the question on this page), I'd suggest you take Maglev to Longyang Road and then transfer to subway line 2 and get off at East Nanjing Road. After that, transfer to line 10 to Yili Road. Leave from exit 1 and your hotel is around 900 meters away. You can walk along Hongqiao Road and turn into Yili Road, on which walk around 480m. Then walk into South Zunyi Road and turn to West Yan'an Road to your destination.