This is an excellent hotel, with a gym and pool on the roof. The gym isn't as good as that at the JEN hotel over the road, however.
It is very high standard, with lots of glass and escalators, and usually quite expensive. Do look out for offers though, I found a very good price thru Expedia, which was a limited offer.
It is west of the centre, just a tram ride to LKF and the MTR rail system.
Verdict: only book if you can find a good price, else better value can be found elsewhere.

The location may not seem good to some travellers but if you are street-smart and have a good travel map of Hong Kong with you, it's actually fine. Island Pacific is actually within a 10-min walk from Sheung Wan MTR station. From the MTR station, you are only 2 minutes away from the central business district, Central, and about 8 minutes away from the shopping district, Causeway Bay. If you know how to take the tram, that's even better. The tram charges a flat rate of HKD2 (approx. a quarter) no matter of the distance you travel. There is a tram stop about 100 metres from the entrance of the hotel. While the tram is slower than the MRT, you will still get to Central in approximately 10 minutes and Causeway Bay in approximately 20 minutes, depending on the time of the day.

The conceirge staff are extremely helpful and courteous. The supervisor is especially helpful - I was waiting impatiently for my airport coach to come by where he quickly helped to call up the company and enquire about the status of the coach which was already 20 minutes late. Front desk staff are also professional and amiable. I was given a free upgrade promptly when they had some problems with my Asia Miles mileage accrual (supposed to be able to accrue mileage by staying at this hotel but due to some miscommunications, they were unable to do so).

The business centre is managed by a staff during operating hours and she was very helpful and approachable. There were two computers with high-speed internet connection available and printing charges are low compared to other hotels of the same category. Light snacks and drinks are provided at the business centre too.

Rooms are clean and well-maintained. While the size of the room is not large (but this is across the board in Hong Kong where land prices are ridiculously high), it is well-decorated and furnished. Basically, the rooms are cosy and chic-looking. Internet connection is also available in every room.

The lobby lounge is very cosy and is a good place to have casual business discussion with your partners. As the hotel does not cater to a lot of tour groups, you can be assured that you won't be affected by noisy tour groups while you are having your business discussion at the lobby lounge.

Overall, I would strongly recommend this hotel to anyone visiting Hong Kong, whether you are a businessman or a leisure tourist. This is a modern hotel suitable for one and all.

I stayed in this hotel for a few nights and had a great stay. The location is central and it is clean. My only grouse though, it's a fair bit of a walk to the nearest MTR and there is no free wi-fi.

Ok so the Island Pacific is in Sheung Wan and approx 5 minutes by cab, 10 minutes on the trolley to Central. Sheng Wan is much more of a local suburb so you see less tourists, and more locals which is nice. Hotel is failry modern, maybe mid 90's, rooms are decent size and well maintained. Outlook is plesant, either back up to the 'midlevels' or a view of the harbour.

You can easily book this hotel for around $100 a nite, which is good value for HK.