With its million dollars location at the tip of Tsim sha Tsui, next to the legendary Peninsula, and its excellent variety of facilities and amenities, The Salisbury YMCA possibly provides the best value-for-money accommodation you can find in Hong Kong.
There are seven clean and comfortable dormitory rooms at the Salisbury, each with only four beds, and although the price they ask for is far higher than what you'll pay in one of the guesthouses in Chunking Mansions, the two can not really be mentioned in one breath (It's almost as bad as trying to compare a Rolls with a Chinese-made rickshaw...)
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Facilities include a great indoors swimming pool, Children's pool, Jacuzzi and Sauna, Well equipped gym, Squash courts, sport facilities, Business center, Laundry/Dry cleaning, Hair salon and more...
HK$ 240 per bed per night + 10% service charge (and there are a few conditions that apply... so you'll better visit their website and book well in advance).
Website: http://www.ymcahk.org.hk/sales/html/e_DR.htm
Email: room@ymcahk.org.hk
Tel: (+852) 2268 7888
Fax: (+852) 2739 9315
41 Salisbury Rd., Tsim Sha Tsui, Kowloon