The state-owned enterprise Hotel Ukraine, located in the center of Kyiv on Independence Square, was sold at auction today for 2.5 billion hryvnias. This amount is more than twice the starting price, which was about 1.05 billion hryvnias. The winner of the auction was Ola Fine LLC, owned by businessman Maksym Kripp. Information about the auction results was published on the Prozorro. Sales platform.
On September 18, online auctions were held as part of a large privatization, in which the four-star hotel "Ukraine" was put up for auction. Three companies participated in the auction: LLC "Ola Fine" of Maksym Krippa, LLC "Alarit-Prom" of Serhiy Spodin, and LLC "Zhytomyr Furniture Plant" of Vadym Grigoriev. The auction was held according to the rules of a three-round English auction, which involves an increase in price.
The starting price of the lot was 1.05 billion hryvnias excluding VAT, but Ola Fine offered the highest amount — 2.5 billion hryvnias. After the deal is concluded, the proceeds from the sale will go to the state budget of Ukraine.
Hotel "Ukraine" is the first high-rise building in Kyiv, which was opened on September 28, 1961 under the name "Moscow". Located in the heart of the capital on Independence Square, it is a landmark for the city and its residents. Over the decades of its existence, the hotel has become an important object for tourists and guests of Kyiv.
According to YouControl, LLC "Ola Fine" is engaged in the rental and operation of real estate. In 2023, the company's revenue amounted to 334 thousand hryvnias. Maksym Krippa, the owner of "Ola Fine", has previously made deals in the real estate sector, including the purchase of the "Dnipro" hotel in Kyiv in 2020 and the purchase of a country complex in Koncha-Zaspa in 2023.
The Cabinet of Ministers of Ukraine approved the starting price and terms of the sale of the Ukraina Hotel as part of a large-scale privatization program in July 2023. The sale is part of the government's strategy to reduce the share of state ownership and increase investment in the country's economy.
