Hong Kong-listed, South Shore Holdings Ltd ( (577:Hong Kong), has declared via “Voluntary Announcement” (pdf) that its luxury hotel, The 13, will open from today, August 31, 2018, after having passed a second round of inspections late last month and issued hospitality licenses.
According to a report from GGRAsia, in a prepared statement in a press release, The 13’s managing director, Mark Lettenbichler, said, “Our team at The 13 are thrilled to unveil this new Macau treasure and are proud to showcase our world-class offerings to our guests.”
Missed deadlines and pledges:
After receiving the necessary licensing in mid-August from the Macao Government Tourism Office, while casino operations aren’t expected to commence until next year, after missing a deadline at the end of July, the venue subsequently pledged in a filing to the Hong Kong Stock Exchange that it would commence business by the month’s end.
In a Thursday statement, South Shore Holdings Ltd said that The 13’s first guests stayed at the property located on the Cotai-Coloane border, “over the weekend of 24 August.”
The firm also said in the statement that The 13 Hotel offers approximately 200 villas and duplex suites.
GGRAsia quotes Peter Coker, chairman of South Shore Holdings Ltd, as stating in the release by the company, which was previously known as The 13 Holdings Ltd., “We look forward to welcoming guests to the wonders that Macau and The 13 have to offer.
Coker reportedly added…
“The 13 will not only lead the way in iconic hotel service, but also champion the finest lifestyle experience. We will continue to work on perfecting our refined and remarkable offerings during this exciting time.”
The company used a February filing to detail that it hopes to open a casino in addition to a selection of retail shops in The 13 by the end of next March.
The source further reports that according to a June 28 filing, South Shore Holdings said as of that date, a bank loan with a principal value of HKD3.04 billion (US$387.4 million) was payable to its lenders on demand.
Cash shortages and delays:
Previously known as Louis XIII Holdings Limited, the owner had originally hoped to open the hotel portion of the $1.6 billion The 13 in July of last year. However, cash shortages led to numerous delays, which resulted in the company having floated successive March and April launch dates as it took steps to raise additional revenue before later putting off the opening to the end of June.
The 13 is billed as one of the most luxurious resorts in the Macau market; the hotel alone came with a price tag of $1.6 billion.