Hong Kong and Shanghai Hotels
HSH is a Hong Kong listed public company, majority owned by the family of Michael Kadoorie, descendants of his grandfather Elly Kadoorie who immigrated to China in 1880 and established himself initially in business in Shanghai. Elly and his two sons, and grandson Michael, went on to built two hugely successful and enduring businesses.
The first is China Light & Power, also publicly traded in Hong Kong, which today still holds the franchise to run the power generation and distribution business in Hong Kong and other parts of Asia. This entity is controlled 35% by the Kadoorie family through CLP Holdings and their stake is currently worth over US$6.5 billion, held on behalf of Michael Kadoorie, who serves as Chairman and his sister Rita and her husband Ronald James McAulay who is a director of CLP.
The second major business is of course the hotel company itself, which is a hotel business, a real estate business and also operates a number of other businesses as well. Its flagship property is Hong Kong’s famous Peninsula Hotel, which is one of the most luxurious hotels in the world and which has just gone through a significant refurbishment programme. The hotel has its own helipad, and runs a fleet of fourteen Rolls Royce cars to ferry its customers around. The Kadoorie family’s holding in HSH is worth today more than US billion and Michael Kadoorie serves as its Chairman.
In recent years the hotel side of the business has expanded internationally, and currently there are nine Peninsula hotels operating in key markets around the world. These include, five more in Asia: in Shanghai, Beijing, Tokyo, Bangkok and Manila. Then three in the United States: in New York, Chicago and Beverly Hills. They all display the same commitment to apparently effortless luxury as the flagship property in Hong Kong.
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