Peter Borer joined the group in 1981 and has been responsible for developing and perfecting the group’s high standards of customer service and operational excellence. Following various operational roles, he was appointed General Manager of The Peninsula Hong Kong in 1994, taking on additional regional responsibility for the group’s Asia hotel portfolio in 1999. Mr Borer was appointed as Chief Operating Officer in April 2004 and oversees the operation of the group’s assets globally.
Since the opening of the Peninsula Hong Kong in 1928, there are only 12 properties in operation in the world. When major luxury hotel groups are looking for a large coverage of the planet in the gateway cities, how do you justify a slow process of development?
You could be even more dramatic in your description of our slow development as we actually started the first hotel operation in Shanghai in 1866, 156 years ago, with The Majestic. A loss for the Kadoorie family who moved to Hong Kong for a new start with the opening of the Peninsula in 1928. Since that date, 95 years ago, the family has been involved to create a very small but fine hotel company that also plays the asset appreciation game.
The ownership of your property is definitely a strong element of your business model…
Indeed, The Peninsula Hong Kong is a classic example of that strategy. When it was built in 1928, it was an investment of about 8 million HKD. And today it’s in our balance
