Updated at 7.01pm: Hong Kong's Peninsula Hotel was ranked the 27th best hotel in the world and the 10th in Asia, a local newspaper reported on Wednesday. The Chinese-language news daily Ming Pao reported a survey by US magazine Travel and Leisure. Readers ranked the Peninsula Hotel 27th among the world's 100 best hotels this year. In a similar survey last year, the Peninsula was ranked 19th. The 76-year-old hotel, located at the south end of Kowloon Peninsula, was the only Hong Kong hotel listed this year. It was also named as the 10th best hotel in Asia, the newspaper reported. The hotel scored 89.84 marks - compared with 95 marks scored by the Four Seasons Resort Bali at Sayan Ubud in Indonesia, which was named as the best hotel in Asia and the world. Ming Pao quoted a spokesman for the hotel as saying the survey showed a change in customers' taste. He said more resort hotels topped the list than city hotels. The US magazine also named Hong Kong as the third best city to visit in Asia and Cathay Pacific the world's third best airline. The Peninsula Hotel was founded by the Kadoorie family in December 1928. The hotel said it was built with the idea to be 'the finest hotel east of Suez'. During World War II, it was occupied by the Japanese army. On December 25, 1941, British colonial officials headed by Hong Kong Governor, Mark Aitchison Young, surrendered in person at the Japanese headquarters on the third floor of the hotel. The Peninsula Hotel was named the Matsumoto Hotel until the end of the war.