Don't worry about a lack of flying experience, having time under your belt is just one way of getting an interview with the company. You should have other things that would appeal to them too.
ap_797 is right, it all depends on how you perform in your interview. Flying experience merely gets you the interview, but it is your performance that decides if you succeed or not. A good interview performance means demonstrating the level of technical knowledge/aptitude that can be reasonably expected of you, AND also giving something extra so the HR staff have something to remember you by. This is especially true when you face stiff competition to get into the next round, and those who can offer something more/different will be the ones who make it to Stage 2. If you have nothing to make yourself stand out, then it will be hard for them to think of you when the time comes to make decisions. I say this with all due respect for everyone who has just been through Stage 1.
flying_hamster, a couple posts back someone asked the same question about accomodation in HKG. I believe he decided to stay in the CX company hotel (the Headland) which is right next to Cathay City. I think he was able to book a room because he was in HKG on the grounds of a CX cadet interview. Check out their website below:
:: Welcome to Headland Hotel ::