The Hyatt hotel chain will open a new hotel in Uzbekistan next year, said the company’s regional vice-president Punit Tandon during a panel discussion on investments in the tourism industry on the sidelines of the Tashkent Investment Forum on March 24.
“In early 2023, we will expand our presence in Uzbekistan. A new hotel will open in Bukhara,” Punit Tandon said.
He did not disclose details, but added that he would not be "surprised" by a further increase in the number of Hyatt hotels in Uzbek cities.
The first hotel was the five-star hotel Hyatt Regency Tashkent, which opened in 2016. The construction of which took about three years.
Until 2020, the hotel was generating income. In 2018, the profit reached 11.9 billion soums, and in 2019 - 53.5 billion soums. However, everything changed during the pandemic - 2020 turned out to be unprofitable year.
In January 2020, the intention to privatize Hyatt Regency Tashkent was announced.
In early March, the State Assets Management Agency announced the start of the privatization of the Hyatt Regency Tashkent hotel by organizing a tender sale process in accordance with the relevant privatization programs. The privatization of the hotel will be carried out through selling the 100% stake of the hotel, which is currently being created by transforming the State Unitary Enterprise “Poytakht qurilish va hizmat” (the current owner of the hotel).
