ZURICH – March 31, 2021 – Hyatt today announced that a Hyatt affiliate has entered a franchise agreement with Metric Ventures LLC (which is owned by Mr. Murari Lal Jalan, Chairman at MJ Developers) for Hyatt Regency Bukhara. Slated to open in 2022, the 223-room hotel will be the second Hyatt Regency hotel in Uzbekistan and marks Hyatt’s ambition to further strengthen its brand footprint in Central Asia.
Set to be located on a 6.78 acres (2.75 hectares) site just outside the historic city, Hyatt Regency Bukhara will connect guests seeking inspiring experiences with the mosques, madrasas and remains of old bazaars that the city is renowned for. The hotel is expected to attract international and domestic travelers alike, and with facilities including extensive food and beverage options and with a large event space, it will become a choice venue for weddings and other social events.
“We are thrilled to announce the second Hyatt Regency hotel in Uzbekistan and the first Hyatt branded property outside Tashkent,” said Takuya Aoyama, vice president acquisitions and development, Hyatt Hotels. “Bukhara is a special destination for us within Central Asia and highlights our intention to unlock new opportunities for expansion across the region. We would like to build on the momentum of our growth and hope to see Hyatt hotels in other jewels of the country, such as Samarkand and Khiva.”
Located on the Silk Road, Bukhara has long served as a center of trade, scholarship, culture and religion. The architectural splendor of Bukhara has earned the Old Town its UNESCO World Heritage status, appealing to guests across the world who are interested in the vast Ark citadel or the elegant Bolo Haouz Mosque. Interesting local attractions include The Ismail Samani Mausoleum and the Kalyan Mosque, both of which will be easily accessible from the hotel.
“We are pleased to be working with Hyatt to open Hyatt Regency Bukhara, which is expected to be the first 5-star hotel in Bukhara,” says Mr. Murari Lal Jalan, Chairman at MJ Developers. “We were drawn to the Hyatt Regency brand because of its success in Tashkent and wanted to work with them seeking extension of their services and hospitality to the people and tourists visiting Bukhara.”
Hyatt Regency Bukhara will be the fourth Hyatt Regency branded hotel in Central Asia, and is expected to join: Hyatt Regency Tashkent, Hyatt Regency Dushanbe and Hyatt Regency Baku.
For more information about Hyatt Regency hotels, please visit: hyattregency.com
About Metric Ventures LLC
Murari Lal Jalan is the owner of Metric Ventures LLC. Mr. Jalan is an Indian national who has lived in Dubai, UAE for over 20 years. Mr. Jalan is the founder and Chairman of MJ Developers, a well-established International real estate development firm.
Mr. Jalan has widened his reach by launching a number of real estate ventures in Uzbekistan.
The Hyatt Regency Bukhara is Mr. Jalan’s first hotel project in Uzbekistan with Metric Ventures LLC.
“This partnership with Hyatt Regency represents a new chapter in Metric Ventures Real Estate portfolio. Launching such an exclusive name in Bukhara shows our firm confidence in the region’s appetite. “We anticipate a profitable and long-term relationship with Hyatt Regency,” says Murari Jalan, Chairman of MJ Developers.
Mr. Jalan, through MJ Developers and Metric Ventures LLC, is building four projects throughout Uzbekistan:
- Hyatt Regency Bukhara – First 5 Star Hotel in Bukhara City
- Namangan Square – 18 Hectares City in Namangan City
- Minerva City – 100 Hectares City in Tashkent City
- Lake City – 100 Hectares City in Tashkent City
These projects include residential, commercial retail, office complexes, educational institutions, entertainment complexes, and medical institutions, to name a few.
For more information: themjdevelopers.com
Valor Hospitality Partners
Valor Hospitality Partners is a proven hospitality management company of Hotelitarians, driven by excellence and best in class commercial performance across all disciplines. Headquartered out of Atlanta, Georgia – U.S. with offices around the globe from London to Cape Town, and Bangkok to Dubai. We pride ourselves in closely and constantly aligning with our owners and investors and their goals. We believe success is not only in properties, but the positive impact we make on the broader hospitality industry. Our collective passion sets us apart from the mainstream. We are recognized as having one of the most enviable company cultures and understand that in order to have highly satisfied and loyal guests, we must have highly satisfied and loyal associates. We thrive in engaging our team, creating emotional connections, and delivering memorable experiences. We believe hospitality is an art, and we aim to make all our endeavors extraordinary.
Julien Bergue, Co-Founder and Managing Partner, Valor Hospitality CIS & Middle East
Julien Bergue, Co-Founder and Managing Partner Valor Hospitality CIS & Middle East said – “Valor Hospitality is delighted to partner with Metric Ventures LLC in bringing the renowned Hyatt Regency Brand to Bukhara whilst offering Valor’s training centric culture & award winning service. Besides offering 223 rooms and suites, Hyatt Regency Bukhara will offer curated and exciting F&B concepts for guests, visitors and Bukhara’s local residents. Landscaped lawns and extensive banqueting facilities would soon become the preferred venues for personal celebrations, state events, destination MICE and special occasions. We could not be more excited to start making our mark in the CIS region with the Hyatt Regency Bukhara, and look forward to maximizing investor’s returns while delivering the Hyatt brand promise.”
