The Peninsula and Excelsior Hotels at Coleman Street, together with the Paramount Hotel at Marine Parade, were all owned by the Consolidated Hotels Group. The company was headed by Mr. Stephen Yap Teck Chiong. Mr. Yap acquired the Peninsula Hotel in 1973 and it was officially opened in 1974, while both the Excelsior and Paramount Hotels opened for business in 1983. All three hotels are presently owned and managed by YTC Hotels Ltd.
