The initial price of the government’s share in the Uzbekistan Hotel put up for sale was cut by 10% due to lack of bids, the State Assets Management Agency said.
Now the state owns 80.13% in the landmark hotel. Initially, the government was planning to sell its share for US$ 33 million, now it is reduced to 29.7 million dollars.
The state share is sold with the condition that the owner will preserve the core business activity (hotel services) for a period of 10 years, refurbishing the hotel without altering the facade and attracting the best management practices.
Uzbekistan Hotel is one of the Tashkent’s landmark buildings. The 4 star hotel is located in the centre of Tashkent near Amir Temur Square. The Uzbekistan Hotel is a mix of European and Uzbek architectural styles, one of the most attractive and prestigious buildings in Tashkent situated in the business center of the city,