Hotels in Hong Kong can be expensive and always very small due to the land value.  We always recommend you stay either in Tsim Sha Tsui or anywhere along Nathan road to about Yau Ma Tei (Jade Markets area).  Hong Kong island is a lot more business like with a lot of expats.  Also fun but it doesn't have the 'buzz that Kowloon has.  Staying on the harbour (Tsim Sha Tsui) is really beautiful with all your glizt and tourist hype.  Yau Ma Tei has a few more locals and you get a bit of a feel for Hong Kong city suburbs (a tiny bit!)  If you really need great and unbiased reviews about all hotels, have a look at Trip Advisor as well.

Hotels we have stayed at and recommend.

Tsim Sha Tsui

Intercontinental Hotel room
Intercontinental Hotel - (OMG!!!!!!!) We were very, very lucky to stay here one year as one of the girls was 'in the business'.  Fantastic but so expensive. Go and have a drink here and pretend!!

YMCA Standard room
YMCA Salsibury Hotel - next door to the Peninsular Hotel and across the road from the Intercontinental.  You are staying in a very luxurious area at a very, very reasonable price.  This is definitely the cheapest option if you are a couple or in a group. This is a wonderful hotel with a great price.  You can chose from a harbour view or other.  I didn't stay here with my family as I found a better deal as we needed 2 rooms (see below). 

Holiday Inn Golden Mile -Nathan Road    Stayed here in 2012.  Great family hotel which has 2 queens beds in one room so you can fit a family of 4. (large children too).  All the conveniences of a good chain hotel.  Absolutely loved the location. Stepped outside in the buzz off TST!  Near Maccas for breaky.  Next door to Chungking Mansions for great Indian food and great money changers towards the back on the ground floor.  The 2 queens beds was cheaper than Novotel this time.

Images of Holiday Inn Golden Mile - Hotel Pictures

This photo of Holiday Inn Golden Mile is courtesy of TripAdvisor

Yau Ma Tei
Twin room Novotel Nathan Road
Novotel Nathan Road  This Hotel is further down Nathan Road and one MTR stop from Tsim Sha Tsui.  It is a beautiful, very flash, newly renovated hotel on a tiny dead end strret on Nathan Road.  They had 7 free Mac computers in the foyer for any hotel residents to use. We were also able to 'find' free unlocked wifi connections in our room (ha ha!) This is the bestfamily option as all children 15 and under get there own interconnecting room for half price!  We paid 1750 HK ($220) for 2 rooms total! Whereas the YMCA would have been 1900 HK ($245) for 2 rooms total.  Two teenage children cannot fit into a YMCA family suite. So it depends if you are with a family or couples or individual group as to the price difference.