Chow Yun-Fat plays a reformed killer who decides to leave his past behind and become the caretaker for the "Peace Hotel". Having grown up in a violent environment and led a crime-ridden past, the death of his girlfriend leads "the Killer" (Chow) to go on a murderous rampage and slaughter everyone in his gang, except for one boy who he spares at the last moment. Having a sort of epiphany, the Killer takes over the site of the slaughter, and transforms it into a safe haven for refugees on the run from bandits or gangsters. It is named the Peace Hotel, and the Killer's fierce reputation protects the tenants. When a woman (Cecilia Yip) shows up and claims to be his long-lost love, he becomes suspicious, eventually discovering that she is on the run from a gang whose leader she killed. Although she is a liar and a master manipulator, his pledge to protect the hotel's residents comes to a head when the gang shows up to kill her. When she realizes the pain she has caused, she is determined to meet her fate, but the Killer's moral tug-of-war forces him to protect her and take on the entire gang... with disastrous results.