12:29 / 28.05.2024

First five-star hotel in Uzbekistan put up for sale

The State Asset Management Agency of Uzbekistan announced the start of the process of selling 100% of the state share in the International Hotel Tashkent.

Photo: ihthotel.uz

“The process of selling the asset is carried out on the basis of a method of public invitation to negotiations, which is open to all interested parties,” the statement notes.

The international company Deloitte is acting as a consultant on this project.

The hotel for sale includes 232 rooms, 7 conference rooms, 2 restaurants, bars and an outdoor terrace, as well as a fitness club with a swimming pool. The total area of buildings and structures is 45 thousand square meters, and the area of the land plot is 3 hectares.

The privatization process will take place in three stages: expression of interest, non-binding offer and binding offer. At the final stage, buyers must make a guarantee payment of at least 1% of the amount of the proposed binding price offer.

The application deadline is 6:00 p.m. on July 4 this year. Participants must provide brief information about themselves, financial statements for the last 3 years and information about owners of shares of more than 5%.

Opened in 1997, International Hotel Tashkent became the first five-star hotel in Uzbekistan. At the end of 2023, the Tashkent hotel began operating under the Swiss brand Mövenpick.

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