The Macau SAR Government has signed a five-year operating contract with the Pousada de Coloane Boutique Hotel in Coloane, which stipulates that the hotel has to pay a return of about MOP$5.7 million (US$712,000) to the government within five years.
The latest contract between the Macau SAR Government and FAL Tourism Hotels Limited, the owner of the Pousada de Coloane Boutique Hotel, came into effect on 16 December and will expire on 15 December 2029.
The contract stipulates that FAL is required to pay a monthly return to the government. In the first year, it will pay MOP$78,283 (US$9,775) per month; in the second year MOP$86,112 (US$10,750) per month; in the third year, MOP$94,724 (US$11,825) per month; in the fourth year MOP$104,197 (US$13,010) per month and in the fifth year MOP$114,617 (US$14,310) per month.
In addition, FAL is required to submit a security deposit of MOP$156,566 (US$19,550) to the government to guarantee the actual performance of its contractual obligations.
According to the contract, Pousada de Coloane Boutique Hotel is also required to operate at least one restaurant that serves local Macanese or Portuguese cuisine, and to develop the hotel into a boutique hotel with a unique local cultural experience with a Portuguese flavor.
The contract also stipulates that the Macau SAR Government may unilaterally terminate the contract in the public interest, or that Pousada de Coloane Boutique Hotel will be terminated if it ceases to operate for a period of three consecutive months without prior approval.
Upon termination of the contract, all facilities and equipment used for the operation of the hotel will be returned to the Macau SAR Government without compensation.
Pousada de Coloane Boutique Hotel is located next to the Cheoc Van Beach in Coloane. It was formerly a private manor house built in the 1930s but was converted into a hotel in the 1970s. It is currently owned by FAL, but the land on which the hotel is located is state-owned and FAL is one of the franchise companies.
The Pousada de Coloane Boutique Hotel is a 4-star hotel with one family suite, 14 standard rooms and 13 superior rooms.
