The most ideal place to stay is in the old town of Qingdao.
You are well located in walking distance to the beach and have the feeling of being in Germany and China at the same time as this city was once, and still is, home to many European expats.
There are two hostels in Qingdao that provide a bed and breakfast feel.
The lifestyle and best audience option is the Old Observatory.
It’s located on top of the hill overlooking the old city with it’s roof top terrace, awesome!
The night life in Qingdao is pretty laid back, after drinking beer in a bag all day, who really has the energy for clubbing?
Visit the new sailing bay area that was built for the 2008 Olympics and you might catch a fireworks show….