The 13 Hotel in Macau has been sold for HK$600 million ($76 million) to a local investor, according to a statement released by Savills (Macau) Limited, a real estate consultancy agency in the city.
The revealed sale price is higher than the previously alleged amount that circulated at HK$400 million ($51 million).
Savills said the deal marked the first hotel property transaction in Macau this year, injecting new momentum into the local hotel market.
The completion of the sale was announced on Wednesday after more than five years of efforts to facilitate the transaction. The new owner, identified as a local buyer, plans to invest an additional HK$200 million to HK$300 million ($25 million to $38 million) in repositioning and comprehensive interior and exterior renovations of the property.
Savills (Macau) Limited Managing Director Franco Liu noted that the redevelopment will integrate French palace aesthetics with non-gaming elements, introducing innovative leisure and entertainment features to provide visitors to Macau with a unique new accommodation experience while enriching the city’s non-gaming offerings.
The hotel features distinctive large suites ranging from 2,000 to 10,000 square feet. The new owner is currently assembling a team and developing plans that will completely reimagine everything from interior design to dining facilities, aiming to introduce an entirely new style that will provide guests with a refreshing experience and enhanced visual enjoyment.
The statement mentioned that the new buyer expressed confidence in market prospects and hopes to inject new vitality into Macau’s hotel industry through innovative design and operational concepts.
The 199-room property had previously been marketed with an asking price of HK$2.4 billion ($309 million), making the final sale price a significant discount from the original asking price.
The 22-storey hotel, known for its ruby-red tower, originally opened in 2018, closed in 2020, and reopened in 2024 after the Macau Government Tourism Office renewed its license.
