Hong Kong

Hotels in Hong Kong are expensive, especially on the island. You can also get a hotel at Kowloon from where it's also very cheap, fast and convenient to go to the island by ferry, underground or taxi.
The cable car ride to Lantau is enjoyable. The tourist village on the island is a bit of an anticlimax really.
If you have the time and like a bit of adventure, fly into nearby Macau and travel to Hong Kong by high speed boat (about 1 hour). The boats travel frequently and the views outside are nice. It's often cheaper as well.