By the terms of the deal the 20-year-old gets to stay at the Mayfair hotel – either in one of its £330 double rooms or £1,000 suites - for a reduced cost. As a result she has saved almost £50,000 in bills over the past 14 weeks, reports the Daily Mail.
Peaches reportedly also dines for free in the restaurant, where a meal for two usually comes to £100, and has been told she doesn't have to pay for drinks in the bar. The hotel's luxury spa facilities and treatments are also at her disposal.
In return, the young socialite mentions the hotel in her mag column and makes sure she's photographed outside it. "Peaches is on the ambassador scheme at the hotel," confirms her representative. "However, she is getting slightly tired of living out of a suitcase. She's house-hunting in London and she is still renting an apartment in New York."
Sir Bob's daughter divides her time between London and the Big Apple, where she writes a fashion column for a lifestyle magazine. She was back in the UK this week, though, to unveil Ultimo's 'youth' collection, the ads for which originally sparked the row with her father.
Wearing a striped corset top above a sedate high-waisted skirt, the part-time model attended a launch event in an Oxford Street department store. As the new face and body of the brand she receives a six-figure payment.