The Peninsula New York is a luxury hotel located on the corner of Fifth Avenue and 55th Street. The hotel is part of the Peninsula Hotel Group who are based in Hong Kong. The hotel was bought in 1988 by the Peninsula group for a price of $127 million. The Peninsula New York has received the AAA Five Diamond Award for thirteen consecutive years and in 2007 it was named one of the greatest hotels in the world by Travel + Leisure Magazine.
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