Under state ownership, the Soviet-built hotel charged as little as $23 a night last year and recorded a $11,000 profit for 2019. “The hotel will get a second life – the hotel will function,” predicted Dmitry Sennichenko, head of the State Property Fund, which is managing the privatization. Under the privatization rules, the auction winner, a little-known real estate real estate company called Smartland, has one month to prove that it will pay for the hotel with legitimate, non-Russian money. After the deal is finalized, in September, the new owner is to keep the name Dnipro, raise the quality to four stars, and retain the staff.
Under state ownership, the Soviet-built hotel charged as little as $23 a night last year and recorded a $11,000 profit for 2019.
