Breaking News: The 13 Hotel in Macau on the Market Again!
Struggling 13 Hotel in Macau Again Up for Sale: Struggling Casino Resort Hunts for New Owner
Written by: Devin O'Connor @CasinoorgDevinO | April 19, 2025, 09:17h
It's deja vu all over again as The 13 Hotel in Macau is back on the real estate market.
Situated south of Macau's famed Cotai Strip, this grand dame of the gaming world has been seeking a buyer for years following the economic downturn of South Shore Holdings in 2021. The company went belly up and was subsequently delisted from the Hong Kong Stock Exchange.
Step in the world-renowned global real estate broker, Jones Lang LaSalle (JLL). They've taken up the mantle as the listing agent on behalf of The 13's various lenders who backed the hotel's $1.6 billion construction. Instead of packing their bags, JLL are actually managing the hotel's operations as well.
The 13 Hotel garnered major attention for its luxury design and opulence. As JLL Senior Director Mark Wong stated, "The 13 is a stunning property that's been given a new lease on life." With the late 2024 arrival of the Light Rail Transport expansion in Cologne, the neighborhood where The 13 Hotel stands, the property has access to a comprehensive transport network – literally putting it on the map for potential buyers.
Beginner's Misfortune
Numerology aside, the number 13 carries a varied connotation around the world. As a common superstition in the West, the number is generally considered unlucky. On the other hand, in many Asian cultures – including Macau – the number 13 brings good fortune. Unfortunately for The 13 Hotel, it didn't pan out that way.
Envisioned by the flame-haired entrepreneur Stephen Hung in 2013, at the height of Macau's gaming industry, he aimed to construct a boutique casino and hotel that was unparalleled in opulence. Investors, companies, and lenders agreed to fork over $1.6 billion to build less than 200 hotel rooms, or $8 million per guestroom, and another $20 million for a fleet of 30 custom Rolls-Royce Phantoms – the largest single order in the company's history.
As Xi Jinping tightened China's regulatory grip over Macau, junket groups tasked with arranging luxury travel for high rollers saw their operations nipped in the bud. Despite acknowledging the mounting concerns regarding a lack of appealing clientele for the luxury boutique hotel, Hung pushed ahead – a bold move that drained his fortune and led to various business ventures being liquidated to see the resort to completion.
All Gambling, No Gaming
Once finished, Hung and South Shore Holdings failed to secure a casino partner to operate the 66 VIP baccarat tables. The hotel opened its doors in September 2018, reporting minimal reservations. Just over a year later, The 13 felt the full brunt of the global COVID-19 pandemic – leading to bankruptcy and lenders taking control of the property.
Last year, the property hit the market with an asking price of HK$2.4 billion (US$310 million). Although strong interest was reported, a deal was never struck. Now, JLL is fielding bids for The 13 Hotel through May 19, with no asking price listed this time around.
So, are your pockets deep enough to snap up this jewel of Macau's hospitality industry? Time will tell. Let the bidding wars begin!
- Stephen Hung, the entrepreneur behind The 13 Hotel in Macau, had envisioned a luxury boutique casino and hotel unparalleled in opulence.
- In 2025, The 13 Hotel is on the real estate market again, located south of Macau's Cotai Strip.
- World-renowned global real estate broker Jones Lang LaSalle (JLL) is managing the hotel's operations while serving as the listing agent.
- The late 2024 arrival of the Light Rail Transport expansion in Cologne provides The 13 Hotel with a comprehensive transport network.
- Despite the number 13 bringing good fortune in many Asian cultures, The 13 Hotel did not experience that fortune due to various economic and regulatory challenges.
- The hotel was backed by a $1.6 billion construction loan from multiple lenders, including investments from companies and lenders.
- Stephen Hung's ambitious plan included a fleet of 30 custom Rolls-Royce Phantoms, making it the largest single order in the company's history.
- Despite concerns about appealing clientele, Hung continued with the construction, leading to financial struggles and liquidation of various business ventures.
- The hotel, which opened in September 2018, failed to secure a casino partner to operate its 66 VIP baccarat tables, leading to minimal reservations and eventual bankruptcy.
- Macau's changing gambling trends under Chinese politics and the impact of the global COVID-19 pandemic further hampered the hotel's prospects.
- JLL is fielding bids for The 13 Hotel through May 19 without listing an asking price, leaving investors wondering if they have enough financial resources to acquire this notable property on Macau's real-estate market. The ongoing bidding war uniquely intersects casino-culture, politics, and general news.
