The Macao Government Tourism Office is currently reviewing plans for a comprehensive makeover of THE 13 Hotel as the property’s new owner prepares to take control.
As reported by IAG, THE 13 was sold last month to family members of Rio Hotel owner Loi Keong Kuong for HK$600 million – a 75% discount to the initial asking price when first put on the market in early 2024. The buyers have since outlined plans to redesign and renovate the property to create a new tourist landmark, including the introduction of “renowned restaurants from around the world,” according to real estate agency JLL Macau.
Speaking with media this week, MGTO Director Maria Helena de Senna Fernandes revealed that the new owner is currently finalizing the handover.
“The new operator is currently handling the handover process and there are plans to introduce new partners and restaurants,” said Senna Fernandes, whose agency is in charge of hotel licensing in Macau. She also noted that the department responsible for issuing licenses had already discussed the new plans, including changes to existing restaurants and the introduction of new ones.
In recent comments to IAG, JLL Macau’s Director, Value and Risk Advisory Services, Mark Wong, said, “This transaction reflects the ongoing recovery of Macau’s tourism industry and the new buyer’s strong confidence in Macau and commitment to driving industrial diversification. Hotel occupancy rates have also improved, indicating the continued recovery of Macau’s tourism industry and attracting investor interest.”
The sale of THE 13 comes after it was first put on the market in March 2024 with an asking price of HK$2.4 billion (US$306 million). Although reports at the time indicated that up to 24 parties had expressed interest, no deal was ultimately reached. A new round of bidding began on 19 May 2025.
THE 13 was the brainchild of long-departed Chairman Stephen Hung and had been envisioned as an uber-luxury hotel with space for 66 VIP gaming tables aimed at capitalizing on Macau’s booming VIP segment of the early 2010s. Instead, a series of funding and construction delays saw the property open in September 2018 with no gaming and with a number of rooms unfinished – all at a cost of US$1.6 billion.
The hotel’s former Hong Kong-listed parent company South Shore Holdings revealed in October 2021 that it had ceased all operations and was insolvent following a statutory demand issued by a lender demanding payment of HK$3.28 billion (US$423 million) in outstanding loans and interest.
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