Concorde Consulting LLC, a member of the Concorde Capital group of companies, acting as an adviser on the privatization of PJSC President Hotel, has set its starting price at UAH 390 million, the company’s press service has reported.
The company said that they expect a significant increase in prices during the privatization auction due to the competition of bidders. At the same time, even a sale at the starting price will bring more benefits to the state than income in the form of annual dividends, according to Concorde Capital.
“There is no need to keep the President Hotel in state ownership. This is not a strategic facility. Today, the hotel is in a state that requires significant investments. In the near future, it can take a significant place on the hotel map of Kyiv precisely by attracting the necessary investments through privatization,” CEO of Concorde Capital Ihor Mazepa said.
According to him, the modernization of the hotel and its further operational management could create hundreds of jobs.
Thus, Concorde Capital recommends holding a competition for the privatization of the President Hotel in the near future.
Concorde Capital’s independent appraisal partners were Marcus Bureau, Creston GCG, BDO Consulting, Redcliffe Partners and Cushman&Wakefield.
Earlier, the starting price of the President Hotel at the privatization auction, according to UkraineInvest, was estimated at $12 million.
