First, hotel prices in HK (and for that matter Singapore) are going through the roof these days....makes no sense except the market can bear the increases

To help you better, really need to know what your definition of luxury hotel is? For instance, others mention the harbor view - IMHO there isn't much of a harbor anymore and will you really want to pay for a room with the night skyline?

Are you looking for big rooms, fancy restaurants,etc. etc.

In the 'old days' my favorite of the more upscale/prestiges hotels was the Mandarin - which was just renovated. I liked the Central location, luv the Grillroom for breakfast and second floor for tea and meetings. And service was impeccable. Downsides - they lacked a good gym and rooms & bathrooms smaller than newer hotels. Haven't been since renovation completed.