wigstheone
Jan 14, 02, 7:52 am
Peninsula Group, famous for its luxurious urban hotels, has canceled plans to expand into resorts. Pierre Boppe, chief executive of Hongkong & Shanghai Hotels Ltd., which owns Peninsula Group, said financial limitations and the company's lack of resort expertise caused the company to reverse plans to develop a chain of Peninsula resorts.
As a result, the Hong Kong company is bringing in an outside manager for its single, unspectacular foray into resorts, the Quail Lodge in Carmel, Calif. It is the first time since the company's founding in 1868 that it has turned a property over to an outside manager, said Mr. Boppe. "You have to focus on what you're good at, and Peninsula hotels really specializes in urban hotels in gateway cities," he said.
http://interactive.wsj.com/articles/SB1010966134194102360.htm
As a result, the Hong Kong company is bringing in an outside manager for its single, unspectacular foray into resorts, the Quail Lodge in Carmel, Calif. It is the first time since the company's founding in 1868 that it has turned a property over to an outside manager, said Mr. Boppe. "You have to focus on what you're good at, and Peninsula hotels really specializes in urban hotels in gateway cities," he said.
http://interactive.wsj.com/articles/SB1010966134194102360.htm