The Russian Government has issued a decree, which is expected to regulate the maximum price for accommodation and services in Krasnodar Region hotels during the Sochi Winter Olympics 2014.

      According to the resolution, a daily fee for a standard room in a two or one star hotel mustn’t be more than 2936 roubles (about $95) and 4600 roubles (about $150) in a four star hotel. Any luxury rooms mustn't cost over 13,896 roubles (around $450) for a night.

      Russian Prime Minister said it is a temporary measure caused by a special case - the Winter Olympics 2014 - which obliges the Government to take responsibility for the prices contrary to the market vision.

      The XXII Olympic Winter Games in Sochi will take place in February 7-23, 2014, but accommodation prices will remain frozen from January 1, 2013 till July 1, 2014. 47,000 hotel rooms will be accepting tourists during the Games, with 27,000 of them being built especially for the Olympics.