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Rich Russians appear to be deserting luxury Alpine ski resorts where chalets can cost $250,000 a week to rent
Luxury ski chalets
A luxury chalet in Courchevel, France.Firefly Collection
  • Wealthy Russians seem to be deserting luxury Alpine ski resorts after the war broke out.

  • A chalet operator told Insider that there was a noticeable absence of Russian bookings for next season.

  • Chalets in Courchevel 1850 can cost between $60,000 and $250,000 a week.

Dance floors, bowling alleys, and even private casinos can be found in the most luxurious Alpine ski chalets. They are popular with wealthy Russians who can afford weekly rental costs that can run into hundreds of thousands of dollars.

The founder and director of Firefly Collection, a luxury chalet rental operator in several upscale Alpine resorts, said that many of his Russian clients would snap up the highest-quality chalets year after year, but things have changed since Russia invaded Ukraine.

We would have expected to see some Russian bookings for next season at this point, but there is a noticeable absence in those requests.

He said that a Russian family got up and left mid-stay in one of Firefly's chalets earlier this year.

Business owners have reported a decline in Russian tourism since the war began. A five-star hotel in Vietnam's Little Russia spent nearly $44,000 on facilities for Russian visitors who never showed up.

The financial impact of a small reduction in the number of Russian clients who book his properties was significant.

In Courchevel and Meribel, France, and Verbier and Zermatt, Switzerland, Firefly rents high-end Chalets.

Courchevel 1850 is the Russian's favorite ski resort and features indoor swimming pools, saunas, cinemas, and massage rooms.

Luxury ski chalets
An indoor pool at a luxury chalet in Courchevel, France.Firefly Collection

Renting a top-end chalet in Courchevel 1850 costs $60,000 to $250,000 a week, depending on the time of the season. He said food and drink were not normally included, meaning most clients had to pay a lot of extra money.

The difference on our balance sheet will be felt by Russian clients who are high spenders.

Luxury ski chalets
The dance floor of a luxury chalet in Courchevel, France.Firefly Collection

After two disastrous years for the travel industry during the Pandemic, we really need some stability to return to the industry. The timing is terrible because the outlook for Russians traveling to Europe this ski season is pretty bleak.

As an added disadvantage, Latimer said prices for Firefly's ski chalets had increased substantially for next season across the French Alps because of rising operational costs.

Luxury ski chalets
The spa area of a luxury chalet in Courchevel, France.Firefly Collection

The operators of lavish ski Chalets are concerned that the war in Ukraine will cause travel disruption across Europe. That would be a disaster for the industry.

He suggested that wealthy individuals from other parts of the world would want to take over the place of rich Russians.

Do you own a business that has been affected by the war in Russia? If you have any questions, please contact Ztayeb@insider.com.

The original article is on Business Insider.

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