BAKU, Azerbaijan, November 14. The State Assets Management Agency of Uzbekistan announced the sale of a 100 percent state stake in the Hyatt Regency Tashkent hotel, Trend reports referring to the agency.
The sale was organized as a competitive bidding process open to all interested parties. The winner of the competition was the Abu Dhabi Uzbek Investment JV LLC which acquired the hotel for $87 million.
KPMG an international consulting company acted as the lead consultant of the agency on this transaction.
Abu Dhabi Uzbek Investment is an investment company established in 2019 by the UAE’s Abu Dhabi Development Fund and the Fund for Reconstruction and Development of Uzbekistan.
The five-star hotel Hyatt Regency Tashkent has been operating since 2016 in the center of Uzbekistan’s capital. It is the first hotel of the international hotel brand Hyatt which is operating in Uzbekistan.
The total area of the hotel is 3.1 hectares; the area ofbuildings and structures on the territory of the hotel is 60,100 square meters. On the territory, there are several conference rooms of various capacities, as well as a banquet hall with an area of850 square meters, an indoor pool, and a SPA center.
The hotel provides 300 rooms for accommodation, including 248 standard and 52 junior and suite rooms.