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Officers rushed to the hotel after receiving a report on Sunday morning that a man and a woman were fighting.
The woman and a boy were found dead at the scene and the man was arrested on suspicion of murder and sent to a hospital.
Police did not confirm the relationship between the three people but told AFP they were all foreign nationals.
According to local news site Apple Daily, the couple, in their 40s, and their seven-year-old son were of Korean nationality and had checked into the five-star hotel a few days before.
A spokesperson from the Ritz-Carlton did not immediately respond to queries from AFP.
The upscale hotel is located on the top floors of Hong Kong's tallest skyscraper -- the ICC -- and is famous for panoramic views of the city and its Victoria Harbour.
In a separate incident, Hong Kong police are also investigating the murder-suicide of a couple who were found dead at a public housing estate near the border with mainland China, local media reported.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)