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The Peninsula Hong Kong 3.5 billion large renovation
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According to Hong Kong media reports, Shanghai Hotels, announced yesterday, opened in 1928, its flagship property, The Peninsula Hong Kong ─ rooms will be a comprehensive renovation, the hotel is expected to increase three-year capital expenditure budget of 3.5 billion. Notice that the expected profitability of the hotel room revenue due to the reduction during the construction period in the first half of 2012 and 2013 have an impact, so the company's revenue and earnings may be affected. The renovation work is expected in January 2012 to April 2013 in two phases, the hotel will remain open during construction. According to hotel's annual report, its 2009 turnover was 4.218 billion yuan, of which the income of the Peninsula Hotel in Hong Kong 9.67 billion. Mainly in Asia, the United States and Europe, hold and manage the luxury hotel project.