Russian Government Puts Cap On Hotel Prices For 2014 Winter Olympics

The Russian government has issued a decree that "will regulate the maximum price for accommodation and services" at Krasnodar region hotels during the 2014 Sochi Winter Olympics, according to RUSSIA TODAY. ­The regulation states that a daily fee for a standard room in a one or two star hotel must not exceed 2,936 roubles ($95) for a single and 4,600 roubles ($150) for a double. And those interested in a luxury suite will not "have to cash in" more than 13,896 roubles ($450). Russia's PM Dmitry Medvedev said, "Of course, it’s only a temporary measure for the Olympics, but, nevertheless, it’s a case when the State takes responsibility for the prices contrary to the market vision. Our people are tricky or even quirky. So we must see to it that the tour operators and hotels won't come up with any substitute fee, which won't be directly related to the cost of living, but would still have to be paid so that they could compensate for their losses" (RT, 12/10).