Embattled Macau hotel The 13 is no longer the proud owner of the world’s largest Rolls-Royce fleet after reaching an agreement to sell 24 of its 30 vehicles.
Parent company South Shore Holdings revealed on Thursday that it was disposing of the famed bright red Rolls-Royce Phantoms for a total consideration of HK$24 million (US$3.1 million), or HK$1 million each, in order to pay down part of its bank loan. The buyer is named as Ms Cai Yanping.
It is less than three years since The 13 first took delivery of the fleet in September 2016 at an estimated cost of US$20 million. At the time, the cars were touted as some of the most luxurious ever produced with a specially formulated “Stephen Red” exterior paint designed by then Chairman Stephen Hung, bespoke 21” wheels and an interior clock by master jeweler Graff. The fleet also included two special ‘gold’ phantoms reserved for select guests.
The 13 finally held a soft opening in August 2018 after a disastrous development period that included a total of seven deadline extensions due to difficulties in financing the lavish property – located south of Macau’s Cotai Strip. Although it now accepts guests for private events, a number of rooms remain unfinished due to a lack of funds.
South Shore Holdings has recently been involved in ongoing negotiations with an unnamed party regarding a potential investment of up to HK$1.5 billion.