Macau’s lavish however long-troubled luxurious property, THE 13 Lodge, is as soon as once more looking for a purchaser, following the collapse of a earlier gross sales try final yr. The 22-storey improvement, recognized for its extravagant interiors and turbulent monetary historical past, is being marketed by way of a public tender course of overseen by actual property consultancy Jones Lang LaSalle (JLL), which has been named the joint sole agent for the sale.
JLL confirmed in a press release cited by Macau Enterprise that the tender is formally open and can stay so till 6 p.m. on Might 19, 2025. The consultancy, nonetheless, has opted to not disclose both the present valuation of the property or its asking value. This echoes the 2024 tender course of, throughout which the resort was listed at HK$2.4 billion (US$309.2 million) however failed to shut a deal regardless of attracting over 20 expressions of curiosity.
Extremely-Luxurious Options With Unrealized Gaming Ambitions
First opened in 2018, THE 13 Lodge was the brainchild of Hong Kong entrepreneur Stephen Hung and was envisioned as a hyper-luxurious vacation spot tailor-made for Macau’s elite gaming market. The unique blueprint included 66 VIP gaming tables, aiming to attract high-rolling clientele within the booming on line casino hub. Nonetheless, protracted building delays and main shifts in Macau’s regulatory panorama round gaming thwarted these ambitions. The resort finally opened with none gaming services and with a number of areas nonetheless incomplete.
The property consists of 199 lodging, comprising 196 expansive visitor rooms measuring between 1,800 and 5,000 sq. toes, and three ultra-exclusive villa-style suites of 10,000 sq. toes every. These suites function personal elevator entry, baroque-inspired interiors, and antique-style décor, all supposed to evoke unmatched opulence. Different facilities embrace a health club, a spa, eating places, and devoted parking for 150 vehicles and 40 bikes.
Operational Struggles and a Temporary Comeback
Operations at THE 13 have been delivered to a halt in 2020 amid the COVID-19 pandemic and rising monetary challenges. Although some restricted services—like choose eating places—reopened briefly, the broader property remained principally dormant till 2024. That yr, the resort was granted a renewed five-star deluxe license by the Macau Authorities Tourism Workplace, permitting it to partially resume enterprise.
Based on JLL, components of the property have since been refurbished and returned to their unique grandeur. Mark Wong, Senior Director at JLL Macau, famous, “The five-star resort on the market has garnered important consideration as a result of its luxurious design and opulence. Presently managed by JLL, The 13 Lodge has reinstated components of the property to its former situation.”
Strategic Location and Market Potential
The resort’s location is a possible asset for patrons. Located at Estrada de Seac Pai Van, Lote 1 do Aterro da Concórdia in Coloane, the property lies near Hengqin Port and the bustling Cotai Strip. It’s a five-minute drive to each, with Macau Worldwide Airport and the Ferry Terminal reachable inside ten minutes. The newly operational Gentle Rail Transit (LRT) station is simply three minutes away, enhancing accessibility and funding attraction.
“Information from the Statistics and Census Service exhibits that customer arrivals to Macau reached approx. 35 million, a 23.8% improve y-o-y. Lodge occupancy price additionally rose to 86.5%, indicating a steady restoration in Macau’s tourism business, doubtlessly boosting native consumption and resort demand,” Wong stated.
Monetary Collapse and Change of Possession
Behind the luxurious façade lies a tumultuous monetary historical past. THE 13 was initially constructed at an estimated price of MOP11.32 billion (US$1.6 billion), however delays and overambitious plans strained its backers. South Shore Holdings, as soon as the bulk stakeholder, declared chapter in 2021 and was delisted from the Hong Kong Inventory Trade by 2023.
The chain response continued. The resort’s managing firm, The 13 Lodge Administration Ltd, filed for chapter in Macau in 2023. Possession of the venture website finally handed to the Financial institution of Communications Macau Department after New Concordia Lodge Restricted, which held the land rights, defaulted on obligations.
In a last blow to any try at monetary restoration, a last-ditch authorized effort to dismiss a MOP3 billion mortgage was rejected by Macau’s prime courtroom in late 2023.
