The most dramatic increases in occupancy were recorded by The Peninsula New York and The Peninsula Bangkok, up 80% and 367% respectively over the first three months of 1999. Positive if less spectacular momentum was experienced by The Peninsula Hong Kong (+12%), The Kowloon Hotel (+6%), The Peninsula Beverly Hills (+5%) and The Peninsula Manila (+10%). At The Palace Hotel Beijing and Quail Lodge Resort, Carmel, there were minor dips of 1% and 3% respectively. 

Yield is showing a similar pattern with The Peninsula New York and The Peninsula Bangkok again in the vanguard, up 81% and 65% over the first quarter 1999. In double digits are The Peninsula Hong Kong (+15%) and The Kowloon Hotel (+12.5%). Increases in average room rates, however, were evenly spread, owing more to levels that each market will bear.

�We saw the pattern shift towards the end of 1999, as confidence returned and economies began to strengthen,� commented Pierre Boppe, CEO of parent company The Hongkong and Shanghai Hotels, Limited. �The first quarter figures encourage us to believe that a steadier course is set for 2000.� 

The demographics point to a resurgence of outbound traffic from some of the markets hardest hit by the Asian economic turmoil with Japan and Taiwan leading the charge. Japanese visitors, who had almost disappeared from Hong Kong, are returning to the destination as well as to other Asian countries and East Coast USA. European and Canadian markets continue to be lively although the USA is down slightly. 
 
 

The Peninsula Group is the operations and marketing arm of The Hongkong and Shanghai Hotels, Limited, a premier international hotel company. 

Peninsula Group hotels comprise: The Peninsula and The Kowloon Hotels in Hong Kong; The Peninsula Bangkok; The Peninsula Manila; The Palace Hotel, Beijing; The Peninsula New York; The Peninsula Beverly Hills; Quail Lodge Resort & Golf Club, Carmel; The Peninsula Chicago (opening 2001).