Imperial Palace Hotel changes hands

Empresa Hoteleira de Macau Lda, the operator of Beijing Imperial Palace Hotel (formerly known as New Century Hotel), announced yesterday that it had transferred the ownership of the hotel property to a company named Victory Success Holdings Limited.
Empresa Hoteleira posted a notice in Chinese language newspaper Macao Daily yesterday that Victory Success has become the new owner of the property in Taipa since October 22, 2015. The company did not give additional information on the deal but said the transfer of the property ownership is in the form of a settlement in lieu of debt.
In 2013, the city’s Court of First Instance ordered the seizure of the then New Century Hotel in lieu of an undisclosed debt owed to Hoi Cheng Nga, the head of Energy Travel Agency Ltd. One month after the court order, the hotel property was renamed Imperial Palace.
No official information about Victory Success or whether it is related to Mr. Hoi was available by the time this story went to press.
Empresa Hoteleira was acquired by local businessman Ng Man Sun in 1996. Mr. Ng, also known as Ng Wai or Kai See Wai, was the founder of Greek Mythology Casino inside the hotel property as well.
In 2012, Mr. Ng fell out with his former girlfriend Chen Mei Huan over the ownership of the hotel and the Greek Mythology Casino. Mr. Ng was hospitalised after being attacked by a group of six men inside the property.
Ms. Chen claimed at that time she owned 80 per cent of the property, whilst Mr. Ng told a court in the British Virgin Islands – where the parent company of Empresa Hoteleira Peckson Ltd. is registered – that the transfer of shares to Ms. Chen in 2011 was just temporary.
Currently, Mr. Ng’s Hong Kong-listed company Amax International Holdings still owns some 24.8 per cent stake in Greek Mythology Entertainment, the operator of Greek Mythology Casino, according to the company’s filings with the Hong Kong Stock Exchange.
But the casino, running under the gaming licence of Sociedade de Jogos de Macau S.A. (SJM), ceased operations from the beginning of this year for ‘renovation reasons’. SJM CEO Ambrose So Shu Fai commented earlier this year that the closure of the casino was temporary, assuring that the casino will reopen as soon as possible.