Hongkong and Shanghai Hotels : 17 Mar 2020 - Unaudited Operating Statistics - Fourth Quarter of 2019

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

THE HONGKONG AND SHANGHAI HOTELS, LIMITED

(Incorporated in Hong Kong with limited liability)

(Stock Code: 00045)

Unaudited Operating Statistics - Fourth Quarter of 2019

The unaudited quarterly operating statistics of The Hongkong and Shanghai Hotels, Limited (the "Company") for 2019 and 2018 are as follows:

THE PENINSULA HOTELS

RevPAR (HK$)				2019					2018
		Q1	Q2		Q3	Q4		Q1	Q2	Q3	Q4
Hong Kong		4,164	3,292	1,692	1,714		4,717	3,618	3,148	4,855
Other Asia		1,885	2,134	1,825	2,400		1,901	2,088	1,750	2,126
USA and Europe		3,283	4,565	4,651	4,457		3,511	4,413	4,927	4,464
Average Room Rate (HK$)			2019					2018
	Q1	Q2		Q3	Q4		Q1	Q2	Q3	Q4
Hong Kong		5,989	5,396	4,857	4,819		5,883	5,661	5,485	6,223
Other Asia		2,604	2,996	2,607	3,186		2,699	2,825	2,410	2,837
USA and Europe		5,773	5,928	5,800	6,044		5,600	5,920	6,276	6,107
Occupancy Rate	Number of			2019				2018
(%)	Rooms
	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4
(as at 31 Dec 2019)
Hong Kong	300			70	61	35	36	80	64	57	78
Other Asia	1,618			72	71	70	75	70	74	73	75
USA and Europe	969			57	77	80	74	63	75	79	73

1

LEASING

Average Monthly Yield		2019				2018
per available square foot (HK$)	Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4
Residential	48	49	47	48	46	46	46	48
Shopping Arcades	167	166	164	160	172	169	167	167
Office	63	62	62	63	59	62	63	63
Occupancy Rate (%)		2019				2018
Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4
Residential	97	97	93	95	95	94	95	97
Shopping Arcades	87	86	86	85	88	87	87	87
Office	100	100	96	96	94	100	100	100

Note for All Operations:

1. All amounts are expressed in HK$

Notes for The Peninsula Hotels:

1. Number of rooms is the total number of guestrooms in a hotel, whether available for sale or not. Rooms available for sale is the total room inventory less rooms unavailable for an extended period of time and / or permanent house use rooms
2. RevPAR is the total rooms revenue / rooms available for sale
3. Average Room Rate is the total rooms revenue / number of rooms sold
4. Occupancy Rate is the number of rooms sold / rooms available for sale
5. RevPAR, average room rates and occupancy rates are weighted averages for the hotels in each grouping
6. The Peninsula Hotels are located in:

Hong Kong:	Hong Kong
Other Asia:	Shanghai, Beijing, Tokyo, Bangkok and Manila
USA and Europe:	New York, Chicago, Beverly Hills and Paris

Notes for Leasing:

1. Average Monthly Yield per available square foot is the total rental income / area available for lease
2. Occupancy Rate is the area leased / area available for lease
3. Average monthly yield per available square foot and occupancy rates are weighted averages based on the area available in each grouping
4. The Group's most significant shopping arcades are located in The Peninsula Hotels in Hong Kong, Shanghai, Beijing, New York, as well as The Repulse Bay Complex and The Peak Tower
5. The operating statistics do not include information for operations whose results are not material in the Group context: The Landmark, Vietnam; The Peninsula Residences, Shanghai; and 21 avenue Kléber, Paris

2

Shareholders and potential investors of the Company are reminded that the above operating information has not been reviewed or audited by the Company's independent auditor. Shareholders and potential investors of the Company should therefore exercise caution when dealing in the securities of the Company.

For and on behalf of the Board

The Hongkong and Shanghai Hotels, Limited

Christobelle Liao

Company Secretary

Hong Kong, 17 March 2020

As at the date of this announcement, the Board of Directors of the Company comprises the following Directors:

Non-Executive Chairman

The Hon. Sir Michael Kadoorie

Non-Executive Deputy Chairman	Non-Executive Directors
Andrew Clifford Winawer Brandler	William Elkin Mocatta
	John Andrew Harry Leigh
	Nicholas Timothy James Colfer
Executive Directors	James Lindsay Lewis
Managing Director and Chief Executive Officer	Philip Lawrence Kadoorie
Clement King Man Kwok
	Independent Non-Executive Directors
	Dr the Hon. Sir David Kwok Po Li
Chief Operating Officer	Patrick Blackwell Paul
Peter Camille Borer	Pierre Roger Boppe
	Dr William Kwok Lun Fung
	Dr Rosanna Yick Ming Wong
Chief Financial Officer	Dr Kim Lesley Winser
Matthew James Lawson	Ada Koon Hang Tse

3