Rich Russians are still booking the most expensive luxury chalets in the Alps, despite the weakness of the Rouble, says one luxury ski specialist.
But whilst the effect of their weakening currency would appear to be hindering the Russian middle classes, the ultra-wealthy have continued to enquire about and book properties such as Chalet No.14 in Verbier (pictured above, peak price: £137,800 for a one week stay from 27 December – 3 January, next winter 15/16) and Chalet Gentianes in Courchevel (peak price: €425,000 for a three week stay from 26 December – 16 January, next winter 15/16), according to Oli Corkhill, founder of luxury ski holiday specialists Alpine Guru.
Typically this year, Russian clients spent 26% more than their British counterparts and 17% more than their contemporaries did the previous year said Mr Corkhill.
Russians looking to book such high-end properties have been benefitting from holding their wealth in multiple currencies outside of Russia, or even living and working outside of their homeland in economic hubs such as London and Geneva.
“Whilst Russian spending has remained high this season, we do expect the weakening Rouble to have more of an effect next year. In line with this we are seeing Russian clients, not often known for early booking, coming to us with 2015/16 enquiries already. They are also negotiating rates much harder than has been the case in recent years,” said Mr Corkhill.
Those booking from the Middle East have continued the upward trend in terms of spend per booking. Those from the lands of seven star hotels and gold plated Bugatti maintain their elaborate wish lists whilst visiting the world’s most exclusive ski resorts.
Spending also continues to increase from emerging economies such as Brazil and China.
“Over the next three to four years we expect to see more holidaymakers from the likes of Brazil, China and even India as the economies of these nations continues to grow. With globalisation comes further awareness of alpine holidays type of service and accommodation available in the mountains. Nations such as these enjoy family orientated travel so chalet holidays are ideal with the space afforded and the personal service provided,” added Mr Corkhill.