• Profits up at HSH

Hongkong and Shanghai Hotels increased turnover 6% to HKD5,508m in 2013, with underlying profits up 16%. Revenue at the hotels division grew 4%, with the Peninsula Hong Kong returning to full service by the mid year.

HSH will open its first European hotel in Paris shortly, and has invested HKD1,564m for a 50% stake in a new London Peninsula hotel, yet to be designed. It has also recently signed a deal to open a hotel in Yangon, Myanmar.
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