The spectacular failure of the $1.2 billion Chinese luxury hotel that would have made the Burj Al-Arab seem ordinary.

Stephen Hung, a name that rouses confidence, reeks of the true meaning of being stinking rich and provides aspirations for a life lived by few. He is a man who hails from money, walks, talks, and dresses in money. The world witnessed his rise and vitality from his sassy attire, monumental expenditures, and rich guts. Nobody is perfect, not even Stephen Hung. Among his many successes comes rather prominently a massive failure- The 13. Dubbed one of the most luxurious hotels in the world, The 13, located on the Cotai Strip in Macau, was planned as a haven for the rich. It could not cater to the creme de la creme of the world owing to constant delays. The creditor’s demand for the resort’s parent company to immediately repay $423 million worsened matters. Let’s take a look at Hung’s vision, execution, and the phenomenal fiscal failure of the grand casino resort:

The 13- a metaphor of money, magic, and megalomania:
Five years back, Hung said, ‘Thirteen is my lucky number, and the new name and logo fit perfectly with my vision. There is a hint of tradition while also suggesting a chic and fun edginess.” Located in the gambling mecca Macau, The 13 showed immense promise as the ultimate destination for high rollers. The prominent Baroque-inspired palatial interiors were evident in each of the 200 large suites measuring between 2000 to 30,000 square feet. Guests were treated like royalty (because they are) with 24-hour butler service for every room and a fleet of Rolls-Royce Phantoms. Who else could afford the $100,000 per night room?

To top it all, each villa included a Roman marble bath that fits 8, underneath an ornate Baroque ceiling embellished with a crystal chandelier. The property offered some amenities considered rare even for the super-rich, such as an invitation-only L’Atelier offering couture, the only other branch of iconic French Michelin 3-star Haute cuisine L’Ambroisie. New York architect Peter Marino, the brainchild behind legendary flagship stores like Chanel, Louis Vuitton, and Christian Dior, designed the unforgettable 13 hotel.

Source: https://luxurylaunches.com/hotels_and_resorts/why-the-13-hotel-in-macau-failed.php