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The 13 Hotel up for auction, owner seeks $307 million

March 14, 2024 Macau Casino & Hotel

The owner of the 13 Hotel, which has been closed since February 2020, is seeking HKD2.4 billion ($307 million) for the structure, which is up for sale until April 5.

TDM-Rádio Macau, the local media outlet in Macau, reports that twenty companies have shown interest in learning more details about the deal.

The owner has selected Jones Lang LaSalle (JLL) to manage The 13 Hotel’s sale. Oliver Tong, the general manager of JLL’s Macau division, claims that after announcing the sales process, JLL received responses from twenty potential buyers in only one week.

After making unsuccessful attempts to sell the property since its founding in 2018, the owners have now given Jones Lang LaSalle the task of handling the bidding process.

The 22-story 13 Hotel Macau has 196 luxury rooms. It’s close to the Cotai Strip, which has a number of casinos, in Coloane. The selling process started on April 6 and will conclude on April 5 at 6:00 PM.

The Macau Court of First Instance declared The 13 Hotel’s owner company bankrupt in February 2023. The parent company of The 13, South Shore Holdings Limited, lost its listing on the Hong Kong Stock Exchange on February 9th of last year after failing to reopen share trading for a period of eighteen months.

Original story by: Asia Gaming Brief

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