The shuttle bus from Disneyland Park goes to both hotels, so they are equally convenient. The two hotels are different styles. Disneyland Hotel is more elegant and fancy, while Hollywood Hotel is more "modern design".
We stayed at Hollywood Hotel because they have rooms with Disneyland view, and I want to see the night view of the park (the christmas lights inside the part are on until past midnight, and quite nice).
I always go to Disney for dinner (2 times per month in different resterant), don't know why although I hate the food but I love the environment.
The buffet is bad(I went there once)for adult but is good for kids. You can never compare the food quality with Marriot or the other hotels in HK or Kowloon side.
The main point is to only take pictures and play around with the Disney character.