Hong Kong Hilton 2.94

Hong Kong Hilton was a hotel in Central, Hong Kong. Built in 1963, the 26-storey hotel was initially the only 5-star hotel on the island side of the territory. It closed in May 1995, and was demolished soon thereafter along with Beaconsfield House (the old address of the Information Service Department) and carpark to make way for a commercial development, the Cheung Kong Centre.HistoryThe 26-storey building was owned by Hutchison Whampoa, who licensed Hilton Hotels Group to operate it for 50 years. The 750-room hotel opened in 1963 and was one of the most prestigious in the colony, a favorite of tourists and dignitaries alike.The Hong Kong Hilton was the first hotel in the world to introduce the minibar in all of its hotel rooms in 1974. In the months following its introduction in-room drink sales skyrocketed 500%, and the Hong Kong Hilton's overall annual revenue was boosted by 5%. This led the Hilton group rolled out the minibar concept across all its hotels the following year.In January 1994, with about 20 years of the management contract to run, Hutchison announced the buyout of the remaining term for US$125 million. The hotel subsequently closed its doors on 1May 1995, the landmark was to be torn down and rebuilt as a multi-storey commercial office complex and headquarters for Li Ka-shing's flagship holding company, Cheung Kong Holdings.