Can i use 1 taxi from airport to the Park Lane Hong Kong Hotel?

I am afraid not. One taxi can hold five passengers at most. So you need to hire two. Each taxi costs about HKD 290.

Yes, you can take bus line A11 from HKIA to Sugar Street, Yee Wo Street Station. Walk north to the hotel. The fare is HKD 40, and the trip takes about 70 minutes. :)