The Peninsula Hong Kong is preparing for a revamp as the landmark Tsim Sha Tsui hotel approaches its 100th anniversary in 2028.
Parent company Hongkong and Shanghai Hotels revealed the plan in its August 5 interim results, confirming renovation projects for its flagship Hong Kong property and The Peninsula Tokyo have received board approval under the group’s Vision 2035 strategy.
HSH’s board has approved renovation projects for The Peninsula Hong Kong and The Peninsula Tokyo, with a combined budget of HK$2.1 billion. The investment forms part of the group’s “Vision 2035: Perform and Transform” strategy, which includes reinvestment in core assets.
For Hong Kong, the timing is significant: The group has previously said it is working to enhance the hotel ahead of the milestone of 100th anniversary in 2028 . However, details remain under wraps, including the renovation schedule, any closure plans, areas affected, design direction and changes to the guest experience.
The HSH group returned to profitability with HK$23 million attributable to shareholders, compared with a HK$289 million loss a year earlier, while consolidated revenue and EBITDA both rose 20%. Hotels were the main driver, with hotel revenue up 10% and EBITDA up 24%.
HSH is also marking its 160th anniversary in 2026, alongside milestone anniversaries for Peninsula properties in Manila, Beverly Hills and Chicago this year.
Image credits: The Peninsula Hong Kong