Unlucky for some – The 13 Hotel faces further delays

ICR WEBSITE THE 13 HOTEL
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The Macau Government Tourism Office has stated that The 13 Hotel, developed by South Shore Holdings Ltd, formerly The 13 Holdings Ltd, is still awaiting an operating licence.

The announcement follows re-inspection of the luxury Cotai-Coloane border property by the MGTO this month, after a June assessment flagged a range of “unfinished works.”

“The Macao Government Tourism Office is currently awaiting opinions soon to be given by the technical departments, which will be crucial to the issuance of the hotel licence,” said a statement from the authority.

The venture began construction in 2013 before being plagued by construction difficulties, including a July 2017 halt following liquidity issues, as well as an October delay after what was then The 13 Holdings Ltd share value dropped 50 percent following a $129.2m funding call.

Earlier this year, the postponement of a proposed March opening date saw financier, and former chairman, Stephen Hung, resign his position, before transferring 82.5m of shares to a company wholly owned by South Shore’s deputy chairman Tom Lau Ko Yuen.

Intended to appeal to the Chinese VIP market, construction costs hit $7m per room, supplemented by a $20m order for a fleet of red Rolls Royces.

In its annual report, published 26 July, South Shore predicted the licence would “be granted on around July 25, 2018 and The 13 Hotel will open on July 31, 2018.”

However, this would be updated “according to the actual circumstances in respect of the development.”


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