The 13 Hotel in Macau, a once controversial luxury real estate project, is at a turning point in its fate. Recently, the Director of the Macau Special Administrative Region's Tourism Bureau, Wen Qihua, confirmed that this hotel, located in Coloane Village's Shek Pai Wan and previously halted due to financial issues, is now in the final stages of property transfer, with the new owner preparing to restart the project.
It is reported that this mysterious local buyer plans to invest about 200 million to 300 million Hong Kong dollars (equivalent to 25 million to 38 million US dollars) for a comprehensive renovation of the hotel, including interior decoration and exterior enhancement. The new owner plans to introduce new partners and dining brands, aiming to bring this project, once hailed as "Asia's most luxurious hotel," back into the market's view.
"They have many new ideas and are discussing with relevant departments how to revitalize the hotel space, such as reshaping the restaurant layout and adding dining facilities," said Wen Qihua. "Of course, we hope that these plans can be truly implemented, making full use of this hotel."
The transaction was facilitated by the real estate consulting firm JLL. Although the transaction price was 600 million Hong Kong dollars (about 76.4 million US dollars), higher than the previously reported 400 million Hong Kong dollars (about 51 million US dollars), it is still far from the asking price of 2.4 billion Hong Kong dollars (about 309 million US dollars) reported in 2023. Regarding this, Huang Zhixiong, Senior Director of Valuation and Risk Advisory at JLL Macau, revealed that the new owner intends to continue operating the property as a hotel, rather than repurposing it.
Since its opening in 2018, The 13 Hotel has had a tumultuous fate. Despite being equipped with 196 oversized guest rooms ranging from 1,800 to 5,000 square feet, as well as villa suites, a spa center, a gym, and a private parking lot, its name, decoration style, and high-profile promotion once attracted widespread attention. However, due to the lack of a gambling license, the originally envisioned "luxury + casino" business model was obstructed, and the revenue model could not be implemented, causing the project to be mired in difficulties for a long time.
Moreover, impacted by the pandemic, the hotel suspended operations in February 2020. It was not until July 2023 that the Macau Tourism Bureau reissued a five-star hotel license, allowing it to partially resume operations. This license is currently valid until the end of 2025. However, the hotel's parent company, South Shore Hotel Group, ultimately declared bankruptcy in 2023 and exited the Hong Kong Stock Exchange.
Despite its troubled fate, The 13 Hotel has never been forgotten by the market. This transfer and restart may just be the opportunity for its phoenix-like rebirth. Whether it can successfully rewrite its fate depends on the new owner's integration capabilities, the recovery trend of Macau's tourism and hotel market, and how this building, once called "the loneliest luxury hotel in the ivory tower," can regain market trust.
