The State Property Fund has completed the assessment of the Ukraine Hotel in Kyiv and plans to put it up for privatization at the end of the summer. According to the State Property Fund, foreign operators have already shown interest in the hotel and are even considering it as a potential five-star property in the future.
“We have completed the hotel’s assessment process, which values it at UAH 1.039 billion excluding VAT. We are currently preparing for an auction, which we plan to hold at the end of the summer—possibly even in the third quarter,” stated Koval, head of the State Property Fund.
“There is interest from the market, including foreign operators who are already inquiring about technical information on it. Moreover, foreigners see this hotel as a prospective five-star property (currently, it holds a four-star rating),” revealed the head of the State Property Fund.
