Amid rumors that it has changed ownership, Macau’s Beijing Imperial Palace Hotel – formerly known as New Century Hotel – has been subject to renovation works in recent months. IAG understands the buyer is linked to YOHO Group.
Vacant for years, the Beijing Imperial Palace Hotel, which once housed the Greek Mythology casino, has long been plagued by ownership disputes. The hotel’s former owner, Empresa Hoteleira de Macau, was in 2018 embroiled in a legal battle over the issue of ownership – denying at the time claims that then Suncity Group chairman Alvin Chau had seized control via his company Victory Success Holdings Ltd.
This followed the closure of Greek Mythology in 2015 and the entire hotel a year later as ordered by the Macao Government Tourism Office (MGTO). The Director of the MGTO, Maria Helena de Senna Fernandes, stated at the time that the closure order was due to “serious administrative irregularities which constitute threats to public safety”.
Greek Mythology had counted AMAX International Holdings, controlled by former Macau junket identity Ng Man Sun, as a 24.8% stakeholder prior to its closure.
While both the casino and hotel have remained closed ever since, rumors began circulating last year that the land on which the hotel stands had been reclaimed by the government.
Sources have since informed Inside Asian Gaming that the Beijing Imperial Palace Hotel has been acquired by another company and is currently undergoing renovation. Upon visiting the site, IAG observed that renovation works have indeed commenced with multiple workers conducting high-altitude operations. One side of the hotel building is enclosed by scaffolding, with construction elevators installed.
The project category is listed as “Reparo/Manutenção” (Repair and Maintenance), with the construction period valid from 14 August 2025 until 31 May 2026.
According to the construction permit, the project owner is Chau’s Victory Success Holdings, however, the contact address listed is “Treasure Island Office Building 16/F.”
YOHO Group’s office address is precisely located at Treasure Island Office Building 16/F.
Sources disclosed to IAG that Beijing Imperial Palace Hotel had already been transferred to YOHO Group prior to August. The transaction involved YOHO Group Executive Director Mike Lam Hin Wai, who owns the five-star YOHO Treasure Island Resorts World Hotel on the Macau Peninsula, opened in January 2024.
IAG has reached out to YOHO Group for comment.
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