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 buyer plans to redesign and renovate the property as part of plans to turn it into a tourist destination, according to Savills and JLL.