CO129-616-6 Hotels Ordinance- 1949 21-2-1949 - 21-2-1949 — Page 129

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tions in the inquiry.

The first of these open judicial inquiries to be into the case of the Hong Kong, Peninsula & Repulse Bay hotels for

the following reasons

(a)

(b)

(c)

(a)

觑

These Hotels are admittedly the leaders in the hotel

business of the Colony;

It is understood generally that control was first

brought up for consideration by reason primarily of

complaints received from permanent residents in these

hotels;

These hotels have nearly ready for presentation to the

Committee a meticulous analysis of their rates in

relation to their trading capital and profit and loss

accounts by one of the leading and most reputable firms

of Chartered Accountants in the Colony and are confident

of establishing to the complete satisfaction of your

Committee not only that there is no case for reduction

in their present existing rates but that actually there

is a case whereby, from the point of view of fair

returns on investment, they should be allowed an

increase in their present rates.

In this particular first inquiry, your Committee will

have the benefit of evidence from reputable and

experienced hotel operators, as well as the benefit

mt of evidence from reputable and experieneed hotel

operators, as well as the benefit of evidence and

opinions from the best and most experienced of hotel

chartered accountants upon which your Committee can

determine generally what is a fair and reasonable

profit to allow a hotel business with reference :

either to capital outlay or present capital value

of assets;

14.

Ind.