Hongkong & Shanghai Hotels, the parent company of Peninsula Hotels, will renovate the 287-room Peninsula Hong Kong and the 299-room Peninsula Tokyo. The renovation announcement follows a return to profitability for Hongkong & Shanghai Hotels. Renovation Scope and BudgetHongkong & Shanghai Hotels said its board approved renovation projects for both properties. Financial PerformanceHongkong & Shanghai Hotels reported first-half revenue of HK$3.53 billion, an 8% increase year over year. Peninsula Hotels Global PortfolioBeyond the Hong Kong and Tokyo properties, Peninsula Hotels operates 10 additional hotels worldwide.