Maxim Krippa commented on the acquisition of the Ukraina Hotel

On September 18, an online auction was held to select the company that will privatize the iconic Ukraina Hotel in Kyiv. The winner was Ola Fine LLC owned by Maxim Krippa. The investor believes that UAH 2.5 billion is a reasonable price and is convinced that it is time to invest in Ukraine. Maksym Krippa told Forbes Ukraine about his decision to make a bet and plans for the hotel, UNN reported.

“The bid of UAH 2.5 billion is quite reasonable, given the importance and value of the hotel. In preparation for the auction, we analyzed and estimated the real value of the asset. I am convinced that a square meter in the center of the capital of Ukraine cannot cost the amounts offered by other bidders. Our offer is a fair price, and by my example I have shown that such legendary objects cannot be bought for nothing,” commented Maxim Krippa.

He shared when the reconstruction of the Ukraina Hotel might start and said that in addition to expanding his real estate investment assets, his interests include IT, video game development, and e-sports.

Maxim Krippa pays special attention to charity: “The most important thing for me today is to support Ukraine. The charity organization I founded, MK Foundation, focuses on logistical support for the Armed Forces, rescue and medical services. It is entirely a private capital initiative. There are no donations or fees. So far, the total amount of assistance has reached UAH 830 million,” commented the businessman.

Under the terms of privatization, the new owner must pay off the hotel’s debts to employees, the state and creditors, and undertakes not to change the core business of the facility for five years and not to lay off employees for at least the first six months.