HSH to open The Peninsula Paris in 2012

Sep. 16, 2009 (China Knowledge) - The Hongkong and Shanghai Hotels Ltd<0045>, owner and operator of the Peninsula chain of luxury hotels, plans to open The Peninsula Paris hotel in 2012, said CEO and Managing Director King Man Kwok recently.

The Peninsula Paris, which will be located on Avenue Kleber, will be HSH's first hotel in Europe.

HSH announced in January 2009 that it had reached an agreement with Qatari Diar Real Estate Investment Co to spend HK$1.03 billion in cash acquiring a 20% stake in a subsidiary of Qatari Diar, which owns the building that formerly housed the Centre International de Conferences. Both sides agreed to redevelop the building into The Peninsula Paris hotel.

Meanwhile, the interior work for The Peninsula Shanghai is close to completion and the hotel will open on a trial basis in the fourth quarter of this year.

HSH's hotel portfolio includes The Peninsula Hong Kong, The Peninsula New York, The Peninsula Chicago, The Peninsula Beverly Hills, The Peninsula Tokyo, The Peninsula Bangkok, The Peninsula Beijing, The Peninsula Manila and Quail Lodge Resort and Golf Club in Carmel, California.

However, HSH on Nov. 15, 2009 will close the hotel at Quail Lodge Resort and Golf Club, which has booked losses for the past eight years, according to an earlier report from China Knowledge.