Macau’s lavish but long-troubled luxury property, THE 13 Hotel, is once again seeking a buyer, following the collapse of a previous sales attempt last year. The 22-storey development, known for its extravagant interiors and turbulent financial history, is being marketed through a public tender process overseen by real estate consultancy Jones Lang LaSalle (JLL), which has been named the joint sole agent for the sale.

JLL confirmed in a statement cited by Macau Business that the tender is officially open and will remain so until 6 p.m. on May 19, 2025. The consultancy, however, has opted not to disclose either the current valuation of the property or its asking price. This echoes the 2024 tender process, during which the hotel was listed at HK$2.4 billion (US$309.2 million) but failed to close a deal despite attracting over 20 expressions of interest.

Ultra-Luxury Features With Unrealized Gaming Ambitions

First opened in 2018, THE 13 Hotel was the brainchild of Hong Kong entrepreneur Stephen Hung and was envisioned as a hyper-luxurious destination tailored for Macau’s elite gaming market. The original blueprint included 66 VIP gaming tables, aiming to draw high-rolling clientele in the booming casino hub. However, protracted construction delays and major shifts in Macau’s regulatory landscape around gaming thwarted those ambitions. The hotel ultimately opened without any gaming facilities and with several areas still incomplete.

The property includes 199 accommodations, comprising 196 expansive guest rooms measuring between 1,800 and 5,000 square feet, and three ultra-exclusive villa-style suites of 10,000 square feet each. These suites feature private elevator access, baroque-inspired interiors, and antique-style décor, all intended to evoke unmatched opulence. Other amenities include a gym, a spa, restaurants, and dedicated parking for 150 cars and 40 motorcycles.

Operational Struggles and a Brief Comeback

Operations at THE 13 were brought to a halt in 2020 amid the COVID-19 pandemic and growing financial challenges. Though some limited facilities—like select restaurants—reopened briefly, the broader property remained mostly dormant until 2024. That year, the hotel was granted a renewed five-star deluxe license by the Macau Government Tourism Office, allowing it to partially resume business.

According to JLL, parts of the property have since been refurbished and returned to their original grandeur. Mark Wong, Senior Director at JLL Macau, noted, “The five-star hotel for sale has garnered significant attention due to its luxurious design and opulence. Currently managed by JLL, The 13 Hotel has reinstated parts of the property to its former condition.”

Strategic Location and Market Potential

The hotel’s location is a potential asset for buyers. Situated at Estrada de Seac Pai Van, Lote 1 do Aterro da Concórdia in Coloane, the property lies close to Hengqin Port and the bustling Cotai Strip. It’s a five-minute drive to both, with Macau International Airport and the Ferry Terminal reachable within ten minutes. The newly operational Light Rail Transit (LRT) station is just three minutes away, enhancing accessibility and investment appeal.

“Data from the Statistics and Census Service shows that visitor arrivals to Macau reached approx. 35 million, a 23.8% increase y-o-y. Hotel occupancy rate also rose to 86.5%, indicating a continuous recovery in Macau’s tourism industry, potentially boosting local consumption and hotel demand,” Wong said.

Financial Collapse and Change of Ownership

Behind the luxury façade lies a tumultuous financial history. THE 13 was initially constructed at an estimated cost of MOP11.32 billion (US$1.6 billion), but delays and overambitious plans strained its backers. South Shore Holdings, once the majority stakeholder, declared bankruptcy in 2021 and was delisted from the Hong Kong Stock Exchange by 2023.

The chain reaction continued. The hotel’s managing company, The 13 Hotel Management Ltd, filed for bankruptcy in Macau in 2023. Ownership of the project site ultimately passed to the Bank of Communications Macau Branch after New Concordia Hotel Limited, which held the land rights, defaulted on obligations.

In a final blow to any attempt at financial recovery, a last-ditch legal effort to dismiss a MOP3 billion loan was rejected by Macau’s top court in late 2023.