Dorsett Wanchai
This comfortable, if older, hotel occupies a prime spot between Wan Chai and Causeway Bay opposite the popular Happy Valley Racecourse, yet its rates are surprisingly reasonable—perhaps because many rooms look onto Sai Wan War Cemetery, where more than 1,500 soldiers who died during World War II are buried. If you're superstitious, ask for a room that faces the racecourse instead. The accommodations are fairly spacious and comfortable, though they're dated and the busy wallpaper can be a turnoff. But if value and location take top priority, this is hard to beat.