I did this MR (on AA) in July and stayed at the airport Regal Hotel. Nice views and workout room, along with pool. Connected to the terminal by a walkway, so you can access Airport Express and the retail shops very easily.
Next time, I might stay in Kowloon because the departure is midday, so I would get more time in town. I wanted to squeeze in a peak tram ride, but the line was too long (even at 8:30pm). So, the Star Ferry and Ave of the Stars were good runner-ups.
Enjoy! It's a wonderful MR.