There are better and more interesting hotels than The Peninsula.
Indeed.
HK hotels tend to have small rooms, beware, and views make a huge difference in pricing.
Hotel prices vary immensely over time. ALthough they tend to go up and down together during busy/quiet periods, correlation varies. So you have to search depending on your budget and preferred location.
But make certain you choose A380 and window seat, row 2 or 3