Khiva Lokomotiv Hotel Sold at Auction for Nearly 45 Billion Soums

Tashkent, Uzbekistan (UzDaily.com) — The Khiva Lokomotiv hotel complex has been sold at an online auction on the E-auksion platform for 44.84 billion soums, 1.5 times higher than the starting price, according to the results of the bidding concluded on 5 January.

After 10 bidding steps, the winner was Oxus Tourism Group, a company established in December 2025. The online auction lasted 1 hour and 16 minutes.

According to data from the Unified State Register of Enterprises and Organizations, Oxus Tourism Group has an authorized capital of 15 billion soums and is wholly owned by the Association of International Road Carriers of Uzbekistan (AIRCUZ). The company’s core activity is the management of hotels and other accommodation facilities.

The Khiva Lokomotiv hotel was included in the privatization program approved by President Shavkat Mirziyoyev in spring 2024.

In September, the Agency for State Asset Management announced the launch of public bidding, appointing RSM Uzbekistan as the consultant. Initially, four potential investors expressed interest in the asset, but their price offers were below the indicative valuation.

In January 2025, the deadline for submitting privatization applications was extended, and by the end of April the number of potential buyers had increased to five. In June, the Agency decided to move the sale to the E-auksion electronic trading platform by decision of the State Privatization Commission. The starting price of the lot was set at 49.825 billion soums.

The hotel is located in the eastern part of Khiva, near the city’s railway station. The complex consists of a two-storey building with a total area of 2,802 square meters, situated on a land plot of 0.74 hectares. The hotel has 78 rooms with a total capacity of 154 beds, including single, double and triple rooms, as well as suites and apartments.

The authorized capital of Xiva Lokomotiv, the company managing the hotel, amounts to 105.4 billion soums and is fully state-owned. The book value of fixed assets is estimated at 35.96 billion soums, with a depreciation rate of 3.7 percent.