The head of the State Property Fund of Ukraine, Vitaly Koval, said that the Fund is preparing for an auction, which is planned to be held at the end of summer or in the third quarter of 2024.
Koval also noted that the hotel is now functioning better than in the past: occupancy and income are somewhat higher, conferences have begun to be actively held there (at least 15 events per month).
“We want to present this hotel as an interesting object to transnational chains,” emphasized the head of the State Property Fund.
According to the head of the State Property Fund, there is interest from the market, including from foreign operators who are already requesting technical information on it. Foreigners consider this hotel as a promising “five” hotel (today it has four stars), added the head of the State Property Fund.
Earlier, Vitaly Koval stated that the Ukraina Hotel had accumulated more than 45 million UAH of debt, so the SPFU plans to privatize it.
Due to the martial law, the hotel is under-occupied, but an average of 15 conferences are held here every month, noted the chairman of the State Property Fund. The hotel consists of six conference halls, meeting rooms and a fund of 363 rooms. Guests are offered halls that can accommodate from 10 to 250 people. There is a shelter that houses a separate auditorium for events for 50 people. There is also parking for 80 cars, Koval said.
In 2024, the State Property Fund must ensure that the state budget receives UAH 4 billion from the sale of privatization objects. As the Deputy Head of the Fund, Sergei Simonov, previously stated, auction commissions have already been created to determine starting prices and terms of sale for 15 large privatization objects.
In the top of future proposals: OGKhK; Demurinsky GOK (sanctioned asset); "Centrenergo"; HMO; Hotel "Ukraine"; Ocean Plaza (sanctioned asset); "Indore"; Uman distillery.
During 2024, the sale of small privatization objects will also continue - more than 300 auctions are planned.
In 2024, the Fund predicts minimum revenues from small privatization at the level of UAH 1 billion.
Let us recall that in 2020, the State Property Fund sold the Kyiv Dnepr Hotel to Smartland LLC for UAH 1.1 billion with a starting price of UAH 80.9 million. The winner planned to invest $20 million in the restoration of the object.
