Notes from Wikipedia:
The Peak Hotel was a hotel at upper terminus of the Peak Tram in Hong Kong. It started as a bar and restaurant, and a hotel with twenty bedrooms for summer visitors opening about the same time as the Peak Tram, in 1888.
About 13 years earlier, in 1875, N.J. Ede had build a house named Dunheved on the property.  In 1881, Alexander Findlay Smith, a Scottish former railway man, had petitioned for the right to introduce a funicular railway to Hong Kong. The Peak Tram was built and began operations in 1888. About the same time, Findlay Smith bought Dunheved from Ede, and opened it as the Peak Hotel. (Ede and his family moved next door.) After the Peak Tram opened, Findlay Smith quickly put the Peak Hotel on the market.
It was sold, and completely rebuilt into an imposing three story building, reopening in 1890.