I really enjoyed my stay at the Sheraton on a recent trip to Ho Chi Minh City - the room was comfortable, clean, and spacious. As a Marriott member, I received a City View room that had a nice view of the city skyline.
The hotel is not brand new, but I have no complaints with any of the facilities - the pool was well-kept (and a relief from the HCMC midday heat), the rooftop wine bar was nice, and the lobby is always filled with helpful staff. I didn't partake in breakfast or any of the on-site dining, but they have a lot of options.
The location is great, located centrally in District 1 and sets you up to easily reach any of the major tourist sites on foot. The one downside is the proximity to Đ. Nguyễn Huệ, the nearby pedestrian street, as it can get loud at night (even on the weekdays). Not the hotel's fault, though, as any properties would be affected- just bring earplugs!
Overall, I had a great experience here for my first time visiting Ho Chi Minh City - I wouldn't hesitate to recommend this for a high-end option in central District 1.