The company behind the Peninsula, one of Asia’s most prestigious hotel groups, has announced plans to develop a new property in Paris – its first foray into the European market, ChannelNews Asia reported.
Hong Kong and Shanghai Hotels Ltd (HSH) said it had signed a deal worth EUR100 million (US$128 million) to develop the site of the former Majestic Hotel in the French capital.
“We hope that The Peninsula Paris will bring a new level of distinction to the Paris luxury hotel market,” Michael Kadoorie, HSH Chairman, was reported saying in a statement.
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