The YMCA of Hong Kong aka The Salisbury Hotel has one of the best locations on Kowloon...right across the Hong Kong Space Museum, just beside the Peninsula, and a few minutes walk to the Star Ferry terminal and Harbour City - Ocean Terminal.
While the better views generally come with a more expensive room, the Salisbury makes for a great base from which to explore Hong Kong if taking the MTR or Star Ferry. It is a block away from shopping at Nathan Road, although there is not much shopping on Salisbury Road and Kowloon Park Drive, which are the streets that intersect the hotel.
To repeat what I said at the start, the single biggest benefit of this hotel is the location in Kowloon and to a lesser extent, more reasonable room rates compared to the other hotels in the same area.

Cheap, central but the Food isn`t the best