Any elite considerations aside, Hyatt is located in the middle of TST - you come out of the door and be surrounded by thousands of people walking in various directions at any time day or night, mostly locals, and it's a relatively short walk to Start Ferry when you want to go to HK island side. Elements mall is huge and has a ton of things to do and W is probably a newer hotel but it it gets slower late at night and to get to HK side it is easier to take MTR (subway) whereby the ferry is a great experience especially at night when all the buildings light up...I'd say if you like "mingling with people" do the Hyatt, if you consider yourself more of "upscale" kind of person, do the W.