I stayed at Langham Place earlier this year. It's a very nice hotel, although it's certainly not on par with the LMO. I actually like the Mongkok location and the hotel is connected to an MRT station so getting around is no problem.

I'm staying there again in December. The rooms are small...I suggest considering a suite. They have a very attractive package called 'suite deal' which gives you a 600 sq ft suite (double the avg room size), Club Lounge access, late c/o, etc. Pricing is extremely reasonable...my rate for my upcoming stay is 2480HKD (~$315). I like the Residence suite with full kitchen. Look for the free Hagen Daz in the freezer! The Langham suites have an extra powder room instead of kitchen.