Tashkent, Uzbekistan (UzDaily.com) -- The State Assets Management Agency of the Republic of Uzbekistan (UzSAMA) announced the beginning of the privatization of the hotel “Lotte City Hotel Tashkent Palace”, through a competitive sale process.

In preparation for this Transaction, based on the results of a competitive selection, "KPMG Valuation and Consulting" LLC (hereinafter – KPMG) was selected as an exclusive financial consultant for the privatization of the Asset.

The four-star hotel “Lotte City Hotel Tashkent Palace” has a unique location in the center of Tashkent, convenient for both tourists and business guests of the capital. The hotel is located opposite of the famous Navoi Opera and Ballet Theater, not far from the Museum of the History of Uzbekistan, within walking distance to the Central Independence Square, as well as Amir Temur Square.

In 2013, it was transferred under the management of the South Korean hotel brand "Lotte Hotel", which carried out a complete renovation of the hotel according to international brand quality standards.

The hotel meets the requirements of the "First Class" standard of the "Hotelstars Union" classification system.

The total land area is 1.14 hectares, the area of buildings and structures is 24.3 thousand sq. m.

"Lotte" quality standards have been applied in the hotel, a modern reservation system has been introduced, which offers guests 232 comfortable rooms for accommodation.

On the territory of the hotel there are several conference halls of various capacities, a banquet hall with an area of 3,042 sq.m., as well as an outdoor swimming pool and a fitness center.