Hotel Ukraine in Kyiv Sold for Over UAH 2.5 Billion at Auction, 2.4 Times Higher

Sep 18, 2024, 12:04 PM

The iconic Hotel Ukraine in central Kyiv has been sold for over UAH 2.5 billion following an auction by the State Property Fund. The auction, which was the first large-scale online privatization auction, saw participation from three companies. The starting price of the lot was approximately UAH 1.05 billion, and the final sale price was more than double the initial asking price, significantly exceeding it by reaching UAH 2.5 billion. This final price was 2.4 times higher than the starting price. The winning bid was placed by 'Ola Fine' LLC, a company owned by Ukrainian businessman Maxim Krippa.