I'll be visiting Hong Kong DL in September and am looking for a reasonably priced hotel that is either within walking distance of the park or from which I can get easy public transportation to the park.
Hong Kong Disneyland is very isolated as it's built on reclaimed land in a bay, surrounded by mountains and the ocean.
The only hotels within walking distance are the 2 Disney-owned properties that are on site; the Hollywood Hotel and the Disneyland Hotel. Even though these are within a 15 minute walk to the park, Disney provides a free shuttle bus for guests to get to the park and transportation centre.
Many hotels in Hong Kong itself have easy access to HKDL thanks to the MTR (Mass Transit Railway). It's easy to catch the MTR, which runs frequently, to the park as it has its own dedicated line and station. It would be easiest to stay at a hotel with easy access to a Tung Chung Line station, as this is the line that connects to the Disneyland line (25 minutes from Hong Kong Station). All other lines however still provide easy access, with many connection stations around the city.
Sydney, Australia ... where there is no Magic Kingdom :(
Re: Hotel Near Hong Kong DL
Just wanted to reiterate that HKDL is fairly accessible, as V1213 suggested, through their MTR.
I'm staying in the Kowloon Hotel for the first half of my September trip to HK, and while it would be easy enough to get to HKDL from there, I'm staying at the Hollywood Hotel for the Disney leg of my journey (purely because I wanted the full "Disney Experience"). In truth, if I wanted a real budget holiday, I could have just as easily stayed anywhere in Kowloon or Hong Kong Island.
The advantage of staying in Kowloon, for example, as opposed to purely staying at the Disney properties, is that you are within walking distance to all the shops on Nathan Road and the ferries/MTR etc. However, in truth, even if you were to stay on Disney property the whole trip, you are still only a short trip over to another island for shopping.
If you are wanting a bit of Hong Kong culture with your trip as well, I'd suggest Kowloon over Hong Kong Island, largely because the latter is more of an ex-pat haven. While I won't be able to fully recommend it until after my trip, Kowloon Hotel is reasonably priced and has a great location (right next to the Peninsula Hotel, Nathan Road and Star Ferry Pier (for the ferries to either Lantau or Hong Kong Island, although the MTR allows you to cruise right into the Disneyland Station).
I highly recommend investigating this site for Tsim Sha Tsui (Kowloon) area hotels, and links to other areas of Hong Kong: