Vitaliy Koval, the head of the State Property Fund, announced that an auction commission has set a starting price of 155,486,000 Ukrainian hryvnias ($3,829,490) for the privatization of the Kozatsky Hotel on Independence Square in Kyiv. The online auction is scheduled to take place on July 18 through the “Prozorro.Sales” system.
The three-star Kozatsky Hotel spans eight floors and features 126 rooms, a restaurant, a café, parking facilities, and five conference and banquet halls. Some rooms offer panoramic views of Kyiv’s central square.
Earlier this year, the hotel was transferred to the management of the State Property Fund in preparation for privatization. Previously, it was under the jurisdiction of the Ministry of Defense. Despite its prime location, the hotel has been operating at a loss, particularly in 2022, when it incurred losses exceeding eight million hryvnias.
