Latest news with #The13Hotel
South China Morning Post
11 hours ago
- Business
- South China Morning Post
Macau luxury property The 13 Hotel sells for HK$600 million to a local buyer
The 13 Hotel , touted as one of the world's most expensive hotels, has been acquired for HK$600 million (US$76.43 million) by an unidentified investor in Macau , the city's first such property transaction in eight years. The sale of the 22-storey lodging in Macau's southernmost district of Coloane concluded a five-year search for a buyer, Savills Macau managing director Franco Liu said on Wednesday. The acquisition was Macau's first hotel transaction since the fourth quarter of 2017, according to Liu. He added that the sale price represented the biggest post- pandemic property deal in the city. The 199-room hotel had been valued at HK$2.4 billion last year, when it was first launched for tender. According to Mark Wong, senior director at JLL in Macau, the local buyer had extensive experience in the city's property market – including operating hotels – and had international real estate investments. The buyer also had strong confidence in Macau, Wong said. Savills and JLL in Macau served as joint agents in the sale of The 13 Hotel. The striking red facade of The 13 Hotel. Photo: Handout The buyer plans to redesign and renovate the property as part of plans to turn it into a tourist destination, according to Savills and JLL.
Bloomberg
14 hours ago
- Business
- Bloomberg
Macau Hotel Conceived by Bling Empire Mogul Sold for $76 Million
A luxury hotel in Macau envisioned by Hong Kong tycoon Stephen Hung has been sold at discount to a local investor. The 13 Hotel in Macau was sold for HK$600 million ($76 million), according to Jones Lang LaSalle, the agent that previously handled a public tender of the property in April. JLL was also appointed as the management firm for the hotel before and after the acquisition to ensure a smooth transition, it said in an emailed statement.
