I stayed in Hong Kong Island Pacific Hotel during my stay. It is pretty nice hotel, and not super expensive – around 600-700 HKD. The only problem is, it is still far from the Sheung Wan Metro Station, and it don’t have free Internet access. An option for my next Hong Kong trip, besides the Youth Hotel we stayed during our first visit.
BTW, both JW Marriott Hong Kong, and Shangri-la Hotel Shanghai offer free Wifi service in their lobbies and meeting rooms. It is very nice. Just FYI, in case you are really in need of a WIFI service in Hong Kong or Shanghai.