Ok, Lugia is better to me here's why
Ho-oh is more offensively inclined and Lugia is more defensively inclined, so you'd expect Ho-oh to be faster, but that's not the case
lugia is faster. This doesn't sound like much of a reason, but when a pokemon has high attack and special attack, and yet low speed, this really hurts its sweeping ability, it can't tank hits because of the much smaller defense stat and a 4x weakness to rock
Basically here, Lugia has a better stat mix that Ho-oh
Also, because Lugia is much more defensive, I find it more reliable
So Lugia is way better that Ho-oh