Macau’s 22-Storey 13 Hotel Sells at Major Discount

The 13 Hotel in Macau, a 22-story luxury property with 199 rooms, has been sold to a local investor for approximately HKD 600 million ($50.1 million), marking a significant discount from its previous asking price of HKD 2.4 billion. The buyer, experienced in local property and international real estate, plans to renovate and reposition the hotel as a premier tourist destination with new luxury dining options. The sale concludes a challenging period for the hotel, which faced bankruptcy, closure during the COVID-19 pandemic, and difficulty securing gaming licenses, contributing to its financial collapse after a $1.4 billion investment by its original owner, Stephen Hung. The property, located on Macau's Coloane island away from the main casino hub, features ultra-luxury suites, extensive leisure facilities, and convenient transport links but struggled with operational and market challenges. JLL and Savills served as agents for the sale, highlighting the transaction as a sign of Macau's tourism recovery and market resilience. This acquisition represents the largest post-pandemic hotel deal in Macau since 2017, with plans for a comprehensive hotel redesign underway.