Concierge.com's insider take:

We'll come right out and say it: The Peninsula is one of the finest hotels in the world, and has been since 1928. Upon arriving in Hong Kong, guests are whisked from the airport to the hotel's Clipper Lounge via a ten-minute helicopter ride (aerophobes can rough it in one of the Peninsula's Rolls-Royce limos). Set in the heart of Tsim Sha Tsui, Kowloon's shopping mecca, and across the street from the Cultural Centre and the Museum of Art, the hotel also has stunning harbor views (many of the 300 rooms come with their own telescopes for surveying Victoria Peak). The interiors epitomize postcolonial luxury, with heavy silk curtains, dark wood furniture, and porcelain antiques; scores of attentive yet discreet staffers are at your beck and call. In the bar, called the Lobby, a string quartet fiddles away to the accompaniment of clinking teaspoons; Felix, the Philippe Starck-designed Euro-Asian rooftop restaurant, is still a must-go, even though it's been around since 1994. For off-the-charts hedonism, hit the ESPA spa (opened in summer of 2006) for a Chinese balancing wrap and massage.