Thought I'd give an update about a recent stay here. Even though in the decade pre-Covid, I spent hundreds of nights in HK, the CP has never been one of my main hotels. I remember from occasional stays that it was quite good in terms of hardware, although as IHG Spire (and before that: PC Platinum), I don't recall any spectacular upgrades or benefits.
On last week's stay, I was given an upgrade to a high-floor racecourse view room. Rooms are large and furniture is still in decent shape, although of course this is no longer a new hotel. Pleasant view, although I would have preferred a corner room.
As Diamond with lounge pass, was invited to the happy hour on the 28th floor. I don't know if this formally counts as a club lounge. It's a separate section of the rooftop bar with a fairly decent drinks and small plates menu. You can either sit inside, which is air-conditioned to no more than 16C/61F or outside in the steaming heat (with a very pleasant view); I alternated. Breakfast is offered in the restaurant on the 1st floor, decent buffet of hot and cold items, egg and soup station with a chef. Quite decent in terms of food, although the space around the buffets is rather cramped. Wouldn't hesitate to return, and in fact already locked in a couple stays at very reasonable points rates of 31-33k per night (which comes to the low-20k's with Chase 4th night free and 10% redemption discount; about US$100 a night when buying points at .5cpp -- really nice value).