As of July 15, six investors from diverse regions—including Arab countries, East Asia, and Europe—have expressed interest in acquiring the Tashkent International Hotel.
Uzbekistan’s State Assets Management Agency (UzSAMA) has revealed plans to sell its entire stake in the Tashkent International Hotel, marking the start of the privatization process in May.
These potential investors have been vetted against established criteria and deemed compliant. They will each receive a process letter inviting them to submit non-binding offers.
At this stage, qualified bidders will sign a Non-Disclosure Agreement (NDA) and gain access to a Virtual Data Room (VDR). The VDR will contain essential information, including a general overview of the hotel’s operations prepared by Deloitte.
Non-binding offers must be submitted by August 19, 2024, at 18:00 Tashkent time. Successful bidders will proceed to the next phase, where they will receive due diligence reports from Deloitte, have the opportunity to visit the hotel, and engage in Q&A sessions with the management.
The move to privatize the International Hotel is in line with the presidential decree from April 26. Originally scheduled for public auction on the international market in early 2025, the accelerated timeline highlights the government's dedication to speeding up the privatization process.
Established in 1997 in Tashkent's Yunusabad district, the International Hotel was Uzbekistan's first five-star hotel, managed by InterContinental. After InterContinental's exit from Uzbekistan in May 2012, the hotel was transferred to state ownership and rebranded as the International. InterContinental re-entered the Uzbek market in 2022, managing a new hotel in the city center.
The International Hotel features 232 rooms, seven conference rooms, two restaurants, bars, an outdoor terrace, and a fitness club with a swimming pool. The property covers 45,000 square meters and is situated on three hectares of land.
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