Lavish THE 13 Hotel Seeks New Buyer After Unsuccessful 2024 Tender

Embattled THE 13 Hotel, Macau’s HK$2.4 billion (US$309 million) luxury landmark, has reentered the market through a JLL-managed public tender, with bids accepted until May 19^th, 2025. Creditors seek to offload the 22-story, 199-room property after its 2024 sale collapsed despite over 20 expressions of interest.

Initially developed by now-defunct South Shore Holdings, the HK$1.6 billion (US$206 million) project fell under creditor control following its 2021 delisting off the Hong Kong Stock Market (HKEX). JLL has been appointed to oversee both the property sale and interim operations. It has withheld valuation details, mirroring its opaque 2024 approach, as Macau’s gaming sector fuels optimism.

A Derailed Vision

THE 13 Hotel, launched in 2018 by Hong Kong tycoon Stephen Hung as a gaming-centric sanctuary for Macau’s elite, faced early setbacks. Originally designed with 66 VIP gaming tables to capitalize on the city’s casino boom, the project encountered years of construction delays and regulatory shifts that forced its eventual 2018 debut without gaming facilities and incomplete spaces.

Despite this lack, the property’s 199 accommodations—196 sprawling guest rooms (1,800-5,000 sq ft) and three 10,000 sq ft villas with baroque motifs, private elevators, and antique furnishings—retain their lavish identity. Amenities span a spa, gym, dining venues, and parking for 190 vehicles.

Financial Collapse and Rebirth

THE 13 Hotel’s MOP11.32 billion (US$1.6 billion) construction costs and delays triggered a financial avalanche. Majority stakeholder South Shore Holdings collapsed in 2021, delisting by 2023, while subsidiary THE 13 Hotel Management Ltd. filed for bankruptcy that same year. Land ownership shifted to the Bank of Communications Macau Branch after New Concordia Hotel Limited defaulted. A Macau court in late 2023 rejected a MOP3 billion (US$375.5 million) loan dismissal bid, sealing its creditors’ control.

Operations halted entirely in 2020 amid pandemic pressures, with only sporadic restaurant re-openings. This lasted until 2024 when Macau’s tourism office renewed its five-star license. JLL’s interim management has stabilized partial operations, though the property’s future rests on the ongoing tender.

Gateway to Revival

JJL’s Mark Wong Ka highlighted Macau’s tourism rebounded as a catalyst for renewed buyer interest, noting the hotel’s restored “luxurious design and opulence” under current management. The revival aligns with the city’s hotel occupancy surge, though challenges of unfulfilled casino floor ambitions linger.

THE 13 Hotel’s prime positioning in Coloane offers hope of a resurgence. The property is located three minutes from the Light Rail Transit station and five to ten minutes from Macau’s airport, ferry terminal, Hengqin Port, and the Cotai Strip, connecting it to key transport nodes and gaming corridors.