In a landmark privatization move, Kyiv’s Ukraine Hotel has been sold for UAH 2.5 billion in the first large-scale auction conducted via the Prozorro.Sale system. The September 18, 2024, auction marked the beginning of Ukraine’s large privatization efforts, with the historic Ukraine Hotel being one of the initial offerings.

The hotel, a well-known fixture in downtown Kyiv, is a four-star establishment with 14 floors, 363 rooms, six conference halls, and a range of other amenities, including parking. The Ukrainian State Property Fund initially appraised the property at UAH 1.047 billion, but intense bidding during the three-round auction saw the final sale price soar to UAH 2.511 billion—more than twice the starting value.

Ola Fain LLC, a company established in 2021 with a primary focus on leasing and managing real estate, emerged as the winning bidder. The company, with an authorized capital of UAH 768,000, is owned by businessman Maksym Krippa.

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