Cost of state share in hotel “Uzbekistan” reduced again

The initial cost of the state share in the hotel “Uzbekistan” offered for sale was reduced from $29.7 million to $24.6 million. This was reported by the State Assets Management Agency.

Now the state owns 80.13% in the joint venture LLC “Otel O’zbekiston”, which manages the hotel complex. Initially, it was planned to sell the share for $33 million. 

The state share in the authorized capital of the JV is realized on the basis of maintaining the main type of activity (providing hotel services) for 10 years from the date of acquisition of the state share, as well as renovating the hotel without changing the external facade and attracting the best managers to manage it.

This year, the state has put up for sale its share several times, but it was not possible to find customers.

Hotel “Uzbekistan”, built in 1974, is one of the most famous hotels in the country. The latest reconstruction was done in 2010. It is located in the very center of the city, near the Amir Temur Square. The location is very good – there are a lot of sights, shops and cafés nearby.