I am interested in staying 3-4 nights at either the Peninsula or the Oriental.

They both cost the same at $200 / night so if had to pick one ,which would one pick to stay in?Can I also bring ladies up to my room?

Peninsula any time. The Oriental is fading fast IMHO.

Peninsula is my choice. I've stayed at both places over the years. The Oriental has service that can't be beat, but rooms are nothing really special when compared to the Peninsula. The Peninsula also has excellent service, and the food service equals the Oriental, in my experience. The Oriental also has a high air of snobbishness, which the Peninsula doesn't have. The doorman at the Oriental is akin to the fashion police and will confront and question most anyone entering who isn't white and well-dressed, even if there for dinner...

Shopping is also far better around the Peninsula....

Well I'll put in a chip for the Oriental. We entertain/accomodate our clients there. Yeh there is a little bit of upper lip (read snobbish) there, but IMHO, it adds to the whole distinguished ,colonial, pompous charm. I love that era of colonialism and the Oriental epitomises it. Restaurants and bars are top notch, has world class live music, very well apointed acommodations, steeped in history. Never had issues with the doorstaff, but when my wife and I go as a couple or I take clients, we are usually dressed in suits or smart casual. As for ladys of the night, I would say they go there, but I'm guessing your more top shelf,expensive model variety of hooker as opposed to your platform wearing street/go-go bar hooker.

Can certainly not complain about standard and service of THE ORIENTAL.

Just superb.

Rooms? I like the old 2 floor-rooms in the garden wing, but space is very limited.

38 sqm or so?

You feel that over the time they added mini-bar, TV but actually had no spce to do it.

In the newer building the rooms are ok, but just standard as other hotels have as well.

So, for the feeling being in the Oriental, fine. For better accomodation at nearly the same service, go for the Peninsula and enjoy their ferry service next to the Shangri-La.