News » Economy 16 July, 2017, 7:53
Crimean hotels owners quitting business

A dramatic downfall in the tourist business lasting for two years since the Crimea’s grab by Russia did not prompt hotels owners into lowering prices this year. Yet, many of them have drawn their conclusions and are quitting business, reports July 16.

Malyj Mayak, a once-popular town near Alushta, now has deserted beaches and cafes. Its coastal villas and hotels are empty.

At $5,000 per acre in 2013, the land in Crimea was the most expensive in Ukraine. Now now, with the offers of sales of Malyj Mayak property soaring high.

However, every potential buyer may be faced with strong risks against the repeated threats by the Russian authorities to pull down coastal villas and hotels. 

There are some 30 offers to sell spa property in Malyj Mayak alone on the Internet.

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2019-03-25 07:20 :03