Who will buy hotel “Uzbekistan”? Its stake put up for sale

The state put up for sale its stake in the hotel “Uzbekistan”.

Currently the state owns 80.13% of shares in the joint venture “Hotel Uzbekistan” LLC, which manages the hotel building.

The initial price is $33 million. The maximum payment period is 3 years. The buyer must take on investment commitments - to invest 100 billion soums within two years. This money is needed for the modernization and, if necessary, the reconstruction of the hotel.

The new owner will be obliged to maintain the main type of activity (hotel services) for 10 years, maintain the exterior facade of the building and attract the best managers to prosper the hotel. To participate in the competition, one must pay a deposit of at least 15% of the initial price.

Hotel “Uzbekistan” was built in 1974. This four-star hotel is still one of the most famous and renowned erections in Tashkent. It has 223 rooms.