Defunct The 13 Hotel on the market for HKD2.4 billion

The once-beleaguered The 13 Hotel is now up for auction, with the market value estimated at about HKD2.4 billion.

Realtor JLL said it has been appointed as the sole agent for the sale of debt-ridden The 13 Hotel by public tender, starting from March 6. The tender will close on April 5.

The 13 Hotel is a deluxe 22-storey hotel with a total gross floor area of approximately 944,993 sq ft. It features 199 guest rooms, including 196 luxury rooms ranging from 1,800 sq ft to 5,000 sq ft. Additionally, there are three super luxurious high-end villa-style suites of 10,000 sq ft, with guests having the privilege of using elevators opening directly into their own villa’s private elevator lobby.

In February last year, the bankruptcy of the operator of defunct hotel, located in the Seac Pai Van area in Coloane, was declared by a Macau court, finally ending operations of the hyper-luxurious development envisioned by Hong Kong entrepreneur Stephen Hung ,after a lengthy process.

Hung was known to have placed an order for 30 bespoke Rolls-Royce Phantoms for the project.

The original project, budgeted at MOP11.32 billion, started construction in 2013 but encountered several issues with financing that led to slow-downs in construction, ending only five years later.

Late last year, the operator failed to secure backing from Macau’s top court to proceed with its bid to shrug off a bank loan of about MOP3 billion.

Oliver Tong, general manager at JLL in Macau and Zhuhai, said, “The five-star hotel being offered for sale has garnered significant attention since its opening due to its luxurious design and opulence. […] The opportunity to acquire the entire hotel is exceptionally rare in the market and is expected to be highly sought after by investors.”