Is it advisable to travel to Beijing during Chinese New Year in Feb 2016?

Yes, it is advised to travel then. Although it will be cold, nearly all attractions are still open. In addition, many people from other areas go home for the festival, so it is not crowded in the city. The only disadvantage is that many shops and restos are closed due to the festival. At last, there is big possibility of snowfall in early Feb. Hope you can catch it!

Thank you for your response! Will there be no major flux of Chinese tourists around the major tourist sites given that it is a holiday for them as well? :)

Yes, in the Spring Festival, most Chinese people will choose to stay at home and accompany family members. So it won't have crowded local tourists during that period of time. Don't worry. :-)