Now private property: Maksym Krippa received the permission to privatize the Ukraine Hotel
[:en]Ukraine Hotel in Kyiv[:]
On November 28, Maksym Krippa’s company, Ola Fine, received final approval for the privatization of the iconic Ukraine Hotel in Kyiv. The Antimonopoly Committee of Ukraine (AMCU) granted permission for Ola Fine to acquire control over the hotel’s unified property complex.
The sale price of the Ukraine Hotel amounted to UAH 3.01 billion including VAT. The 1.51-hectare land plot on which the hotel is located is not the subject of the sale.
What is known about the Ukraine Hotel?
The four-star Ukraine Hotel, located at 4 Instytutska Street, is one of the most famous hotels in Kyiv. Until 2001, it was called the Moscow Hotel. Its 14-store building was built on the site of the legendary Ginzburg skyscraper, a multi-store apartment building owned by the “king of contractors” Lev Ginzburg. At the time of its construction, the hotel was one of the tallest buildings in modern Ukraine.
The hotel was privatized as part of the government’s property privatization program aimed at attracting private investment to modernize facilities and improve their efficiency.
What do we know about Maksym Krippa?
Krippa is an entrepreneur actively expanding his business in the capital of Ukraine and beyond. In December 2023, he acquired the Parus business center in the center of Kyiv. Earlier, in January of the same year, Krippa became the owner of an estate in Kozyn, an elite suburb of the city.
Despite a long period of non-publicity, Maksym Krippa has long been known in business circles. His name became widely known in 2022, when he became the beneficiary of the NAVI eSports team. Negotiations on the acquisition of this organization had been ongoing since 2018, when he also received a 25% stake in Maincast, a well-known platform for broadcasting eSports competitions.Krippa’s investment portfolio includes other significant assets, including GSC Game World, a developer of cult games such as the S.T.A.L.K.E.R. shooter series and the Cossacks strategy game.
