The Hotel 'Ermitaž' in Kyiv sold for a record 311 million hryvnias.

The investor paid the auction funds for the buildings of the Ermitaž hotel in the center of Kyiv. The amount includes the winning bid at the auction – 311 million hryvnias and 62 million hryvnias VAT, reported the State Property Fund.

The sale of the hotel buildings on Bohdan Khmelnytsky Street became the most expensive auction since the resumption of privatization in September 2022.

'The auction for the sale of Ermitaž took place on May 25. 39 entrepreneurs competed for it, and the value increased from the starting price of 21.2 million to the winning 311 million. The winner is also obliged to sign a contract to protect cultural heritage and preserve its historical appearance.'

According to ProZorro.Sales, the hotel was purchased by the Zhytomyr Furniture Factory. It is also noted that the Zhytomyr Furniture Factory was established in 2003, and currently, 80% of the shares belong to Diprobudmash. 10% of the ownership belongs to Vadim Hryhoriev and the investment management company Maximum Group Closed-End Non-Diversified Venture Capital Fund Aivisi Capital.

In the first quarter of this year, the State Property Fund earned a record amount in the last 10 years. Auctions featured logistics, trading, warehouse, alcoholic assets, etc.

In Kyiv, the investor bought the buildings of the Ermitaž hotel, paying a record amount at the auction. The hotel was acquired by the Zhytomyr Furniture Factory, allowing the State Property Fund to earn the largest sum in the last 10 years.