A public tender has been launched for Cotai’s 13 Hotel, in its creditors’ latest attempt to sell the five-star, 22-storey property, multiple media outlets have reported. Costing a reputed US$1.6 billion to build, 13 Hotel has been labelled one of the world’s most expensive hotels.
Long bedevilled by financial problems, the distinctively red hotel was last officially on the market in early 2024, with an asking price of HK$2.4 billion (US$309 million). While more than 20 potential buyers expressed interest, no sale transpired.
Real estate firm Jones Lang LaSalle (JLL) has been appointed to sell the property this time around, with senior director Mark Wong citing the hotel’s opulence along with the strong recovery in Macao’s visitor numbers as reasons for optimism.
[See more: Macao defends its title as the world’s five-star hotel capital for a third year]
“It’s a super-luxury hotel,” he said. “The hotel market is recovering after the Covid-19 pandemic, and tourists are coming back quickly.”
Not all of the hotel’s 199 rooms are currently operational, and its two restaurants remain closed for repair and maintenance work, according to Inside Asian Gaming. The facility offers leisure facilities, including a gym and spa, and parking for 150 vehicles and 40 motorcycles.
The deadline for 13 Hotel’s new public tender is 19 May, JLL said.
[See more: Macao’s 5-star hotel room rate falls for the eighth straight month]
13 Hotel was developed by Hong Kong businessman Stephen Hung. Construction of the building began in 2013, but was met with multiple delays meaning it didn’t open its doors to guests until 2018.
Its relatively remote location at the end of the Cotai Strip, a design that didn’t resonate with customers, and failed attempts to to open a casino meant the hotel continued to struggle. Operations were suspended in February 2020 and the company responsible for 13 Hotel declared bankruptcy in early 2023. Its main owner, South Shore Holdings, was delisted from the Hong Kong Stock Exchange shortly afterwards.
Last year, the Macau Government Tourism Office granted the hotel a new five-star deluxe hotel license, allowing it to resume limited operations.
