Royal Plaza location is not bad but not great; I think this hotel is primarily used by tour groups from mainland china. The Sheraton is a much better location (close to ideal, actually, being across the road from both the IC ex-Regent and the Pen). I guess the W is ok if you are willing to take a taxi to/from the hotel every time you want to go for a walk (taxis are very cheap in HKG, it is literally USD 3 for a short cab ride), but I would greatly prefer the Sheraton and the Towers part is probably nicer than the W rooms.