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Announcement on the beginning of sale process of shares in “Hyatt Regency Tashkent” hotel

The State Assets Management Agency of the Republic of Uzbekistan (hereinafter referred to as UzSAMA) announces the start of the privatization process of the share in Hyatt Regency Tashkent Hotel (hereinafter referred to as “the Hotel” or “the Asset”) through a competitive sales process (hereinafter referred to as “the Deal”) in accordance with the relevant privatization programs. The hotel will be sold through the sale of a 100% share in the business entity, which is currently being created through the transformation of SUE “Poytaxt qurilish va xizmat” (the current owner of the Hotel).

In preparation for this transaction, following the selection on the best offer basis, “KPMG Valuation and Consulting” LLP (hereinafter – KPMG) was selected as the exclusive financial consultant for the privatization of the asset.

One of the international companies “Big Four” (BIG4) will be attracted in the valuation of the Hotel as a share (business), and the recommended value, based on their Asset valuation report, will be taken as a benchmark in the sale process. 

The sale is organized as a competitive bidding process, open to all interested parties (hereinafter referred to as “the Participants”). Participants are currently invited to express their interest in participating in the sale process of the Hotel.

Brief information about the Asset:

  • 5-star hotel “Hyatt Regency Tashkent” was opened in 2016 in the center of Tashkent and became the first hotel of the international brand Hyatt in Uzbekistan;
  • it is the 5-star hotel in Uzbekistan directly managed by an international hotel chain;
  • the Hotel has an advantageous and exclusive location in the center of Tashkent, within walking distance of the main attractions of Tashkent and the central structure of ministries and departments;
  • the total land area – 3.1 hectares, the area of buildings and structures – 60.1 thousand square meters;
  • the Hotel is located on 8 floors and offers 300 rooms for accommodation, including 248 standard and 52 junior / suite rooms;
  • the Hotel has several conference halls of different capacity, equipped at the level of international quality standards, as well as a banquet hall of 850 square meters, indoor swimming pool and SPA-center;
  • compliance with quality standards has been tested and confirmed by experts accredited by the Hyatt Group.

Interested parties are invited to submit an application in the form of a letter in English, Russian or Uzbek (at the discretion of the applicant, the letter in Russian or Uzbek must be accompanied by a letter in English), and signed by an authorized representative of the applicant (hereinafter – the Application), sent to e-mail addresses:





The Applications will be accepted until March 28, 2022, 18:00 (Tashkent time).


The application process is open to all interested participants. All applicants will be included in the register of potential participants in the sale process.

Non-Disclosure Agreement (NDA) will be signed with potential investors who are qualified for the next step, and access will be granted to a Virtual Data Room (VDR) where general information about the Asset’s activities will be available.

Besides, the detailed sequence of the sale process, its conditions and the next steps will be published additionally.

If you have any questions, you are invited to reach out to the emails listed above.


Additional terms

UzSAMA reserves the right to change the sequence of the sale process or refuse to sell to any potential buyer (s) or to negotiate with them at any time without giving a reason.

This announcement, or any part of its content, should not be construed as a form of commitment on the part of UzSAMA, Hotel and KPMG in relation to the sale of the Asset, which might be assumed in connection with the publication of this announcement. UzSAMA and KPMG reserve the right in their sole discretion at any time and in any respect, without assuming joint or individual responsibility

(i) amend the application deadline

(ii) follow different procedures in relation to different stakeholders, and / or negotiate with one or more potential buyers within the framework of the schedule and procedure provided jointly by UzSAMA, the Hotel and KPMG, excluding any other potential buyer (s) without prior notice;

(iii) terminate the sale process for any reason; and / or

(iv) terminate any discussion and negotiations with any potential buyer (s) in relation to the deal at any time and without giving reasons.


Source: davaktiv.uz