Hongkong and Shanghai Hotels : 08 May 2017 - Unaudited Operating Statistics - First Quarter of 2017

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 - First Quarter of 2017

The appended unaudited operating statistics and press release contain the first quarter operating information of The Hongkong and Shanghai Hotels, Limited (the "Company"). This announcement is made pursuant to Rule 13.09(2)(a) of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and Part XIVA of the Securities and Futures Ordinance (Cap. 571, Laws of Hong Kong). The same information is dispatched to shareholders and members of the press at the Annual General Meeting of the Company held on 8 May 2017.

Shareholders and potential investors of the Company are reminded that the 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, 8 May 2017

As at the publication 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	Ronald James McAulay
William Elkin Mocatta
Executive Directors Managing Director and Chief Executive Officer Clement King Man Kwok Chief Operating Officer Peter Camille Borer	John Andrew Harry Leigh
	Nicholas Timothy James Colfer
	Independent Non-Executive Directors
	Dr the Hon. Sir David Kwok Po Li
	Patrick Blackwell Paul
	Pierre Roger Boppe
Dr William Kwok Lun Fung
Chief Financial Officer Matthew James Lawson	Dr Rosanna Yick Ming Wong
	Dr Kim Lesley Winser

THE HONGKONG AND SHANGHAI HOTELS, LIMITED

(Incorporated in Hong Kong with limited liability)

(Stock Code: 00045)

Unaudited Operating Statistics - First Quarter of 2017

The unaudited quarterly operating statistics of The Hongkong and Shanghai Hotels, Limited (the "Company") for the first quarter of 2017 are as follows:

THE PENINSULA HOTELS

Occupancy Rate (%)	Number of rooms	Q1 2017	Q1 2016	Change (pp)
Hong Kong	300	76	71	5
Other Asia	1,618	68	67	1
USA and Europe	969	63	57	6

Average Room Rate (HK$)	Number of rooms	Q1 2017	Q1 2016	Change (%)
Hong Kong	300	4,859	5,017	(3)
Other Asia	1,618	2,454	2,444	1
USA and Europe	969	5,390	5,142	5

RevPAR (HK$)	Number of rooms	Q1 2017	Q1 2016	Change (%)
Hong Kong	300	3,684	3,568	3
Other Asia	1,618	1,673	1,631	3
USA and Europe	969	3,418	2,933	17

Occupancy Rate (%)	Q1 2017	Q1 2016	Change (pp)
Residential	92	94	(2)
Shopping Arcades	90	93	(3)
Office	98	100	(2)

Average Monthly Yield per available square foot (HK$)	Q1 2017	Q1 2016	Change (%)
Residential	45	46	(2)
Shopping Arcades	173	188	(8)
Office	57	56	2

The unaudited quarterly operating statistics of the Company for 2017 and 2016 are as follows:

THE PENINSULA HOTELS

Occupancy Rate (%)	Number of Rooms	2017				2016
		Q1	Q2	Q3	Q4	Q1	Q2	Q3	Q4
Hong Kong	300	76				71	65	70	81
Other Asia	1,618	68				67	65	66	72
USA and Europe	969	63				57	72	80	75

Average Room Rate (HK$)	2017	2016
	Q1 Q2 Q3 Q4	Q1 Q2 Q3 Q4
Hong Kong	4,859	5,017 4,548 4,589 5,148
Other Asia	2,454	2,444 2,741 2,470 2,735
USA and Europe	5,390	5,142 5,735 5,838 5,669

RevPAR (HK$)	2017	2016
	Q1 Q2 Q3 Q4	Q1 Q2 Q3 Q4
Hong Kong	3,684	3,568 2,976 3,195 4,147
Other Asia	1,673	1,631 1,790 1,636 1,957
USA and Europe	3,418	2,933 4,136 4,658 4,243

Occupancy Rate (%)	2017	2016
	Q1 Q2 Q3 Q4	Q1 Q2 Q3 Q4
Residential	92	94 95 88 89
Shopping Arcades	90	93 96 91 92
Office	98	100 100 100 100

Average Monthly Yield per available square foot (HK$)	2017	2016
	Q1 Q2 Q3 Q4	Q1 Q2 Q3 Q4
Residential	45	46 47 43 43
Shopping Arcades	173	188 183 187 180
Office	57	56 56 57 57

Notes for All Operations:

1. pp = percentage points

2. ( ) = the change is a decrease compared with last year

3. All amounts are expressed in HK$

   Notes for The Peninsula Hotels:

4. Number of rooms is the total number of guestrooms in a hotel, whether available for sale or not. Rooms available, or saleable inventory, is the total room inventory less rooms unavailable for an extended period of time and / or permanent house use rooms.

5. Occupancy Rate is the number of rooms sold / rooms available for sale.

6. Average Room Rate is the total rooms revenue / number of rooms sold.

7. RevPAR is the total rooms revenue / rooms available for sale.

8. Occupancy rates, average room rates and RevPAR are weighted averages for the hotels in each grouping.

9. 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