So, after some research we ended up staying in this very cool little hotel in Queen's Road Central, called the Ovolo Hotel. It was great; nicely decorated, super clean, modern and with fantastic amenities. The room was certainly "compact", actually probably the smallest room we've ever stayed in - but it's not like we spent a lot of time there, so it didn't matter at all.
Here's the "desk" to the left, the free (!) minibar and on top of that, the wardrobe:
We even got a free Loot Bag upon checking in, with chips, breath mints, chocolates and other snacks!
We did go down to the lounge every morning to enjoy the free European breakfast, and every now and then we enjoyed a coffee there too. The hotel put on free 24hr snacks (Nespresso and brownie anyone?) here in their lounge AND - and when we discovered that drinks were all free during 'Happy Hour'... well...! What more do you need?? :)
We would definitely recommend a stay here if you go to Hong Kong. Probably not with children, as space is limited, but for a quick little get-away - perfect!