ajca- Why wouldn't you recommend Traders? Last time we went to KL was back in early 2000 and stayed at the MO. Looking at the rooms now they are so old looking and need to be updated. I am looking at Traders and Shangri-La as alternatives.
The MO is one of the few decent hotels in KL that I haven't stayed at, largely because as you say the rooms looks like they desperately need a renovation. Some of the rooms still have those disgusting bedspreads! Yuck. Unbelievable for an MO.
According to the MO GM's comments on TripAdvisor they are now in planning stages of full revamp of all the rooms. I had lunch at the lobby bar last week and it was excellent and the public areas of the hotel looked like they had recently been renovated and are in great shape.
I would choose the Shangri-la over the Traders any day.
Traders is more modern (conceptually) but everything about it seemed quite dated to me, the furniture / fitout etc feels really cheap, and the service is mediocre. It feels kind of like a 15 year old W Hotel that was designed and built on the cheap and hasn't been renovated since it was built - kind of sad.
Having said that Traders has an advantage in views and also location if you want to be near KLCC.
The Shangri-la on the other hand is elegant, tasteful, very well maintained and has excellent service. I would say the SL is a real luxury hotel (or as close as you'll find to one in KL!) whereas the Traders is a pretty average business hotel.
Just my 0.2myr...
As an aside, hilariously in a response to a TripAdvisor comment the MO's GM mentions the 'exclusive light show' at KLCC. Not sure how that's exclusive to the MO as anybody can walk up and see it. It is indeed fantastic as long as you like having your dinner interrupted by an extremely loud instrumental version of Celine Dion's My Heart Will Go On, accompanied by truly the lamest collection of lights and fountain squirts. The whole thing is totally inexplicable. Only in Malaysia would such a thing be considered anything other than a practical joke.
As another aside - I'm kind of surprised by all the interest in KL as a tourist destination. I sometimes joke "the best way to see the sights of KL is from a speeding Uber as it races towards KLIA". Surely if you're interested in big Asian cities Bangkok or Saigon or Hong Kong or Singapore or even Jakarta are more interesting? Maybe it's just me.