Located in the middle section of Avenida de Almeida Ribeiro, New Central Hotel was originally named “President Hotel”. Completed in 1928, it was the tallest hotel in Macao at that time and the first hotel equipped with elevator. In 1932, its name was changed to “Central Hotel”. Situated on the other side of Avenida de Almeida Ribeiro, Grand Hotel was inaugurated in 1941, which was then the most modern hotel with the most innovative design and highest number of floors in Macao. Therefore, Central Hotel allocated its funds for expansion. The building was increased to 11 floors to outstrip Grand Hotel and its name was changed to “New Central Hotel”. Next to New Central Hotel, Edifício Tai Fung was the original site of Victoria Theatre, the first cinema in Macao. In 1931, the cinema started to play sound films, making it the first cinema playing sound films in Macao. It was the golden phase of Macao’s cinema industry in the 1950s, with over 10 cinemas in Macao.