Large privatization: Kyiv-based Ukraine Hotel sold for UAH 2.5B

The first large privatization auction has been completed in the Prozorro.Sale system, selling Kyiv-based Ukraine Hotel for UAH 2.5 billion.

The auction results were published on the website of Prozorro.Sale JSC, an Ukrinform correspondent reports.

On September 18, 2024, the first auction was held as part of large privatization. Four-star Ukraine Hotel, which is situated in downtown Kyiv, was offered for sale. The object consists of 14 floors, 363 rooms, six conference halls, parking, and other amenities.

Following the appraisal of the Ukrainian State Property Fund, the starting price of the lot was set at UAH 1.047 billion. During the three-round auction, its value increased by 2.5 times to UAH 2.511 billion.

Ola Fain LLC, which was incorporated in 2021, became the winning bidder. According to the data from YouControl, the company’s main activity is the lease and management of its own or leased real estate. The company’s authorized capital is UAH 768 thousand. Its owner is businessman Maksym Krippa.

A reminder that large privatization had started in Ukraine. The first lots offered for sale were Ukraine Hotel and United Mining and Chemical Company (UMCC).

Photo: privatization.gov.ua