In 2015, spent 3 nights over Christmas there (Dec 24 - Dec 27)
Booked at a pre-paid nightly rate of 2625.00 HKD
This was for a KING BED SUPERIOR ROOM
After taxes, the price was 8,662.50 HKD for 3 nights
However, I would not consider even this price to be "cheap"
Hong Kong is a very expensive to visit.