Top-flight lodgingFinanciers pick 'The Pen' as world's top hotelOctober 21, 1997Web posted at: 3:29 p.m. EDT (1929 GMT) (CNN) -- High-rolling international financiers do a lot of traveling -- and they tend to prefer upper-crust accommodations. With that in mind, Institutional Investor magazine polled more than 100 senior financial executives, and after tabulating the results, named the Hong Kong Peninsula as the best hotel in the world. Hong Kong hotels fared well in Institutional Investor's 1997 survey, taking three of the top 10 positions -- Peninsula, Regent (3), Island Shangri-La (6) The Mandarin Oriental ranked 11th -- giving Hong Kong four "bests" out of the top 25. Los Angeles and Singapore each had three in the top 25: last year's number one the Bel-Air (2), the Four Seasons (9) and the Regent Beverly Wilshire (24) in L.A. -- and the Four Seasons (8), the Shangri-La (16), and Raffles (19) for Singapore. Peter Borer, general manager of "The Pen" in Hong Kong, says he is not surprised by the good showing of Asian establishments. With five of the top 10 and nine of the top 25, 31 Asian hotels made the top 100 -- helping equalize a list that has been dominated by European hotels in recent years. "Asian hotels are blessed by the fact that hospitality is part of the culture and tradition," says Borer. Thirty-four of the top 100 hotels were in Europe and 33 were in the Americas. The top-ranked hotel in Africa and the Middle East was the Al Bustan Palace Inter-Continental in Muscat, Oman, placing 23rd. Ten North American hotels placed in the upper 25 percent of the list, along with five in Europe.
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