AFTER a successful year boosted by huge trade shows and increasing visitor arrivals, the hotels are now competing for the season's lucrative holiday trade. No one can beat The Peninsula when it comes to tradition and this year, the elegant landmark is boasting it has been ''perfecting the art of Christmas for 65 years'' since opening on December 11, 1928. On Christmas Day, have a buffet luncheon for $330 at the Verandah Grill. Dinner at the Grill, for $900, will be eaten to the strains of the Cadenza Players. Men are requested to wear a dark suit. Diners at Gaddi's can enjoy a choice of festive dinner or a la carte. Dine for $1,200 and dance to the sounds of Gaddi's Quartet. At the Holiday Inn Golden Mile, Santa Claus will present gifts to children at a buffet lunch and dinner at the Cafe Vienna. Lunch will cost $258 for adults, and $178 for children; dinner, $308 and $218 respectively. The German restaurant the Baron's Table, will offer a four-course lunch with live entertainment and complementary eggnog and Santa Claus will present gifts to children. The price: adults $330, and children $178. A six-course dinner at the Baron's Table with entertainment and Santa will cost $490. Santa Claus will pop up again at the New World Hotel. In the Panorama restaurant, diners can enjoy a four-course Christmas lunch for $390 and a six-course, candlelit dinner with a band for $560. At the Patio, the lunch buffet costs $290 per adult and $230 for children. Santa and a magician will entertain. The dinner buffet costs $395 for adults and $295 for children. In the evening, entrance fee to the Catwalk will be $300 and will include twostandard drinks. Karaoke rooms can be hired from $2,340. The Furama Kempinski is offering Christmas buffet lunches and dinner at La Ronda Restaurant and Lounge. Clowns and Father Christmas will present gifts to children during lunch and the Melody Quartet will play at dinner. Lunch is $290 for adults, $240 for children and dinner is $370 for adults and $320 for children. In the Lau Ling Bar and Lobby Lounge, the Yin Fa Band will entertain diners at a buffet lunch costing $200. A festive buffet brunch at the Rotisserie will feature Santa Claus and clowns and cost $360 for adults and $240 for children. The clowns and Santa Claus will also drop by the Cafe Chater, where a four-course menu at lunch and dinner costs $230. Santa Claus and clowns will also get together with a five-piece band to entertain diners in the Jade Ballroom at a Christmas brunch costing $300 for adults and $240 for children. The Conrad's grand ballroom will host a get-together between young guests and Santa Claus and his reindeer. Steggi the friendly dinosaur will also make a visit. The Conrad's Christmas Day buffet party costs $375 for adults and $300 for children. At Nicholini's, dinner costs $650. Christmas brunch at the Brasserie on the Eighth will cost $400 for adults, $300 for children. Dinner is priced at $500. At the Garden Cafe, a festive dinner buffet will cost $375 for adults, $270 for children. At the Royal Pacific Hotel and Towers in Canton Road, the Chalet Swiss Restaurant is offering Christmas fare to the sounds of the Swiss Folklore Trio. A deluxe five-course set dinner menu costs $750 per person. A lunch buffet complete with Santa Claus, a magician and a clown costs $220 per adult and $160 per child. A five-course dinner with live Swiss music costs $550 per person. The Safari Bar features a rock oysters and carvery dinner buffet for $280 per adult and $220 for children. Dance the night away to live music from 10 pm to 3 am for $220 a person, which includes two Christmas cocktails. At the Cafe on the Park, lunch with clown and magician is $200 per adult and $150 per child. Christmas Dinner Buffet with live disco is priced at $380 and $330. Late-night disco dancing at $180 per person includes two standard drinks. Restaurants at the Hong Kong Convention and Exhibition Centre will also be featuring special Christmas menus. The Congress will offer Christmas brunch for $300 for adults and $210 for children. Children will receive a chocolate Santa and a gift from Father Christmas. A Christmas Dinner Buffet costs $390 for adults and $280 for children. The Gallery Cafe offers a Carving Lunch and Seafood Bar for $215 for adults and $150 for children. The Christmas dinner and disco costs $325 per person and includes one drink and a party gift. Afternoon tea will be offered at the Harbour Lounge for $85 per person. The price includes a chocolate Santa for children and a party gift. Live music will play in the evening and two standard drinks included in the minimum price of $150 per person. For those who prefer to spend Christmas Day at home, all the top hotels offer a variety of hampers containing delectable Christmas goodies. Chefs at the Holiday Inn Golden Mile, will even cook your order for you - down to the trimmings such as fresh vegetables and gravy. The Holiday Inn will also make hampers to order, but stipulates a minimum order of three tailor-made hampers. Prices range from $750 to $1,200. The Peninsula's hampers are an extravagant expression of love: his and her hampers containing gifts such as silk scarves, silk ties and silverware. The Lady's Hamper contains a bathrobe, towels, slippers, a silk scarf, leather purse and a watch. For the golf addict, a Golf Hamper contains golf club head covers, golf cap, golf balls and tees. At the Grand Hyatt, Grissini's will be offering an antipasto buffet for $480 for adults and $320 for children. In the Grand Cafe, the buffet lunch will be highlighted by Father Christmas presenting gifts to children. Lunch will cost $400 and $300. The set dinner will cost $420 for adults and $360 for children. Tiffin features afternoon tea at $115 and dinner at $370. A string quartet will play on both occasions. A buffet lunch in the grand ballroom will feature Father Christmas and gifts, the ballroom band and cartoon characters, at a cost of $480 for adults and $320 for children.