The key difference is location and neighbourhood. Personally I love the LP location in Mong Kok, it is gritty, with character, fun and the best shopping in HKG. But definitely not for everyone. As a hotel (hard and soft product) the suites at LP are markedly better than the GH, also food is superior (had room service last night, and it was Michelin star quality lobster -- rare for hotels!). The kitchen is fabulous (the fridge is paneled in wood and mirrors, for example). Size is 600 sq. ft. which is on the small side, but well laid out so it feels bigger (also the bedroom is bigger than the lounge, which I like). For me the LP is far better (also Residence is a class up from their basic suite).