My previous stay in Hong Kong on a corporate expense account was at the Intercontinental, so when I had the chance to go there on my own money and on a very tight budget, I was dismayed to find that our only affordable option was a "Y". Granted, the rooms are spartan, but we committed to a one week stay and they "upgraded" us. The rooms are clean with outdated furniture and the place could use a paint job. There is cable TV, working laundry facilities, and a restaurant that features live entertainment some nights. The place caters mainly to Chinese budget tourists and tour groups and backpackers from all over the world. The restaurant food won't knock you over, but it is okay and reasonably priced. This YWCA is located a short walk from a bus stop with all kinds of buses that will take you almost anywhere you would want to go. For other dining options, there are at least 4 bakeries at the bottom of the hill where the Y is located and the breakfast pastries are good. There is also a small, elegant French restaurant there where you can get a very good meal that won't hurt your wallet. Finally, for a good breakfast buffet, walk about 6 blocks down to the International YMCA - they offer a great buffet at a very affordable price.
This review is the subjective opinion of a TripAdvisor member and not of TripAdvisor LLC.