There is no question that the Peninsula is a far superior hotel to the Park Hyatt. But it's also a lot more expensive. I guess you need to consider how much time you intend to spend at the hotel, what services you intend to use, and how important the extra space would be at the Park Hyatt. For what it's worth, having stayed at both of these properties, there are no circumstances in which I would choose the Hyatt over the Pen.