2 people are planning to travel shanghai for 4 days in mid july.

Well, what's your budget about the accommodation?
Generally speaking, Huangpu District is a popular area for tourists.
Maybe Motel 168 Xintiandi Xujiahui Road Branch is a good choice. This hotel has comfortable living environment and kind services. The price is CNY 200 to 250 in usual time. It's near to metro stations and bus stops. So the surrounding transportation is quite convenient. Don't worry. The exact address is 3-7 Xujiahui Road.
Hope you like. :-)

Around it, there is Xintiandi (featuring both modern and traditional chinese architecture); Yuyuan Garden ( a classic garden of China), and Bund (kind of must see in SH).