This intriguing little museum, in essence a long room stuffed with period objects and photos relating to the colourful history of the Peace Hotel, is an absorbing and atmospheric diversion. Head through the first entrance to the Peace Hotel off East Nanjing Rd (walking west from the Bund) and it's upstairs on the right.
Hour-long heritage tours (¥230) of the Fairmont Peace Hotel are run through here at 10.30am and 2.30pm. The high tea tour (¥480) is like the heritage tour, but ends with high tea served at the fancy Jasmine Lounge.