The State Property Fund (SPF) has sold the Dnipro hotel in Kyiv to the Smartland company for UAH 1.111 billion, which is 13.7 times the starting price. This is stated in the result of the relevant auction, Ukrainian News Agency reports. The starting price was UAH 80.923 million. Twenty-nine bidders registered for the auction. The highest bid after the third round was UAH 1.111 billion. The winner was Smartland. "The conditions for the new owner are preservation of the hotel’s name in any combination with other words, as well preserveation of its business profile," the State Property Fund’s Chairman Dmytro Sennichenko said. Besides, the hotel’s category must not fall below four stars and its owner must retain its staff and preserve their social benefits. According to Sennichenko, the buyer must also pass an integrity check. After that, an agreement on sale of the hotel must be signed within 30 days, after which payment must be made within 30 days. According to the Unified Register of Legal Entities and Entrepreneurs, the founder of Smartland is the Ice Town company and the ultimate beneficial owner is Maksym Tereschuk. Oleksii Ihunin is listed as the owner of the Ice Town company. As Ukrainian News Agency earlier reported, the Dnipro hotel is located at 1\/2 Khreshchatyk Street, in downtown Kyiv. The hotel has 186 rooms (including 46 luxury rooms), 2 original-cuisine restaurants, 2 bars, 4 banquet rooms, conference rooms, and a meeting room. It also has a left-luggage office, a currency exchange office, and paid parking with security.