We will stay at Royal Paza hotel Mongkok, how to go to the peak/ Madame Tussaud vice versa ?

From your hotel, you can easily walk to the Mong Kok Station where you can take the Tsuen Wan Line to Central Station. Get out of the station from Exit J2 and then walk to the Garden Road following the direction boards to find the Peak Tram Terminal. You can take the tram to reach the top of the peak and the Madam Tussaud is on the top and vice versa.