Overview
It should be noted that Tajikistan’s rich historical and cultural heritage, its unique natural environment and positive economic outlook with business environment improvement are demanding sustainable development of the hospitality business, services and tourism industry as a whole. Moreover, the country is relatively unexplored and is rich in natural resources, and therefore considered "exotic" in terms of tourism and business opportunities. This is a big selling point for today’s adventure tourists and business segments which want to explore amazing natural places and business prospects.
By Taj Stat available data as of 2018, there were officially 35 hotels with 1 696 daily available rooms operating in Dushanbe city. Taking into account the last seven years, the hospitality market has grown significantly in terms of supply number of hotels, namely, increased by 1.5 times, and number of available rooms increased by 34%. However, the quality hotel market in Dushanbe is still limited, presented by Soviet era style and mini hotels different quality. Only a few properties can be included into upscale supply while a big deal of supply goes to hotels in midscale.
Of course, a new segment to approach with no doubt will bring about new challenges as well as opportunities, which would need to be looked at closely and be availed of. As such, ensuring a corresponding level of service, compliance with safety, security standards and other crucial for the industry components will contributes towards the design of a new product.
By Taj Stat available data as of 2018, there were officially 35 hotels with 1 696 daily available rooms operating in Dushanbe city. Taking into account the last seven years, the hospitality market has grown significantly in terms of supply number of hotels, namely, increased by 1.5 times, and number of available rooms increased by 34%. However, the quality hotel market in Dushanbe is still limited, presented by Soviet era style and mini hotels different quality. Only a few properties can be included into upscale supply while a big deal of supply goes to hotels in midscale.
Of course, a new segment to approach with no doubt will bring about new challenges as well as opportunities, which would need to be looked at closely and be availed of. As such, ensuring a corresponding level of service, compliance with safety, security standards and other crucial for the industry components will contributes towards the design of a new product.
The project intends to focus on hospitality development in Tajikistan aimed to establish high-end hotel and residential apartments with outstanding lodging facilities based on the premium concept, high quality services and up-to-date technologies. Development and operating of the high-end hotel complex consisting of 120 guest rooms, retail and leisure, a carpark, auxiliary & service areas and 50 residential apartments (cumulatively – the “Hotel Complex”). The Hotel Complex will involve the redevelopment of the historic Vakhsh Hotel built in 1938, at Nisor Muhammad Street, Dushanbe, Tajikistan. The relevance and perspective of the project rely on two main factors, such as realization of large-scale investment projects and potential growth of tourist demands, due to the active promotion of the country as a tourist destination. The project site has good transport accessibility to the main transport hubs of the city and administrative buildings and visual availability of the site can be rated as “excellent”.
Project objectives
The main objectives of the project are focused on:
- opportunity to create a successful product with a strong international hotel brand
- opportunity to benefit from the mixed-use development, as it aims to foster a synergy between the uses
- opportunity to attract solvent business demand
- opportunity to attract MICE demand and especially wedding business offering quality conference facilities
- potential growth of international and domestic tourism
- a potential increase in foreign direct investments and country’s economic growth will have a positive impact on the development of hospitality sector.
- opportunity to create a successful product with a strong international hotel brand
- opportunity to benefit from the mixed-use development, as it aims to foster a synergy between the uses
- opportunity to attract solvent business demand
- opportunity to attract MICE demand and especially wedding business offering quality conference facilities
- potential growth of international and domestic tourism
- a potential increase in foreign direct investments and country’s economic growth will have a positive impact on the development of hospitality sector.
Project strategic fit
The project supports the National Development Strategy for the period to 2030 and the Tourism Development Strategy of the Republic of Tajikistan, respectively. The policy and management of Tajikistan’s tourism industry is consistent with the government’s economic, social and environmental priorities, and therefore this industry is one of the priority sectors to ensure a real balance of environmental, social and economic stability.
Project outcome
The project provides the private sector with more opportunities for business, creates new job-places and competitive environment, improves services standards in hospitality sector and contributes to macro-fiscal sustainability of the economy over the long term.
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