The Cathay Hotel was designed by the architectural firm Palmer and Turner and completed in 1929 and was the pride of its owner, Sir Victor Sassoon. It has a triangular shaped piece of land at the intersection of Nanking Road and the Bund, with a green pyramidal tower with Tudor panelling, imitating the American Chicago School. The Cathay Hotel was only one portion of the Sassoon House, which also contained offices and shopping arcades. Nowadays it known as Peace Hotel.