A landmark event is expected on the Ukrainian hotel real estate market. The Fund announced an auction for the privatisation of the Hotel "Ukraina"

An auction has been announced for the privatization of the Hotel 'Ukraina', scheduled for 18 September via Prozorro.Sale. Bids will be accepted until 17 September.The starting price of the hotel is UAH 1,047,637,152.

Hotel "Ukraina" is more than just a hotel. It has a rich history and has been one of the most prestigious places in Kyiv for decades, being situated in the heart of the capital. The hotel has welcomed renowned politicians, artists, and guests from all corners of the globe. It has been a venue for numerous important events, ranging from grand banquets to musical performances.

Hotel "Ukraina" is a 14-storey four-star hotel with a total area of 26,318.9 sq. m. It is located at 4, Heroiv Nebesnoi Sotni Alley, Kyiv. The hotel has 363 rooms, 8 conference halls and meeting rooms. Additionally, it features a restaurant with a total area of 451 sq. m for 250 people, as well as banquet halls. Guests can also enjoy amenities such as a sauna, beauty salon, massage room, and car parking facilities.

As noted Vitaliy Koval, Chairman of the Fund: "The SPFU continues to privatize the hotel industry. Hotel ‘Ukraina’ is the first large-scale privatization asset that has good potential. It is important to use internal reserves during the war. And a hotel is definitely not a strategic asset that should remain in the state. On the contrary, its privatization will bring additional funds to the budget, which finances the Defense Forces. It will also bring jobs, new opportunities for business creation and development of the territories."

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Experts expect that the privatization of the Hotel "Ukraina" will attract the attention of both Ukrainian and foreign investors. The new owner will have a unique opportunity to restore the hotel’s former glory and create a modern hotel complex in the center of the capital that will meet the highest international standards.