HONG KONG — High-end hotel operator Hongkong and Shanghai Hotels will spend big on key sites. Company leaders plan to fix up two famous places. They will update properties in Hong Kong and Tokyo. The group shared the plan in its latest profit report.
The total spend will reach 2.1 billion Hong Kong dollars. That equals about 268 million US dollars. The money will cover major upgrades for both sites. The plan shows strong trust in long-term travel growth.
The work will fix almost six hundred rooms. The Hong Kong site holds 287 guest rooms. It first opened its doors in 1928. Its last major fix took place in 2013. The Tokyo site holds 299 rooms. Workers built that city tower in 2007.
The big spend follows a clear return to gain. The parent group made 23 million Hong Kong dollars in net gain for the first half of 2026. That result beats the loss of 289 million Hong Kong dollars from the same period in 2025.
First-half trade cash reached 3.53 billion Hong Kong dollars. That marks an eight percent rise from one year ago. Cash earnings before tax and fees hit 772 million Hong Kong dollars. That represents a twenty percent gain from the prior year.
Top bosses said key sites in Greater China and the US led the growth. Newer sites in Europe also brought in more guests. Strict cost controls and good room prices helped the firm return to profitability.
Group chief executive Benjamin Vuchot praised the team for strong work. He said the firm will boost core assets through wise spending. He plans to prepare the group for its next phase of growth through smart work and key deals.
The group owns and runs twelve sites across the world. European sites sit in London, Paris, and Istanbul. US sites welcome guests in New York, Chicago, and Beverly Hills. Other Asian sites operate in Beijing, Shanghai, Bangkok, and Manila.
Board leaders say the upgrades will keep the sites top tier. They want the two places to stay competitive for new guests. The Peninsula Hotels renovation budget plan will ensure both sites remain distinct for future years.
