Thanks [MENTION=646662]Aventine[/MENTION] and [MENTION=680784]bhrubin[/MENTION] for your comments. We will definitely take these points into consideration.
[MENTION=680784]bhrubin[/MENTION] - yes, you are correct. The St. Regis is 50% more for the same nights we are considering, so unless it comes down a bit, we are ruling it out purely on price point. As for the partial focus on transportation, we will have kids in tow which impacts our travel somewhat as it's just harder to move kids (at least mine) around. I'm not as familiar with Japan as I am with Hong Kong, and being close to the MTR is a must in HK. Is it not the same way in Japan? (To compare, we were just in NYC and we didn't use the subway at all - only ubers.)