Failed Macau ultra-luxury hotel project The 13 has reportedly been sold to a new owner, potentially lending new life to the operation which was banking on a casino for success.
The brainchild of extravagant businessman Stephen Hung, The 13 initially sought to get a satellite casino license under Melco.
However, significant financial difficulties and the steady decline of opportunities resulted in the property only opening in 2018 for a brief period. The hotel closed between 2020 and 2024, under a renewed five-star license from the Macau Government Tourism Office (MGTO), which Macau News Agency reports as having been extended until the end of 2025.
The details of the purchase have yet to be disclosed, given that it’s covered by a Non-Disclosure Agreement.
This is not the first attempt to sell the property, which sits at the end of the Cotai Strip, with a previous listing for some HK$2.4 billion ($309 million) involving more than 20 potential buyers.
The property features ultra-luxury accommodation spread across 196 guest rooms, as well as three suites over 10,000 square feet in size.
All of the entities originally operating and owning the property have filed for bankruptcy, with the creditor – Bank of Communications Macau Branch, taking over the rights to the site, notes the publication.
