Russian Federation Launched

Free Tourism Zones

> Visitors in 15/16 season

Creation of a tourism cluster

in the North Caucasus region

>

Committed

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*

**including Southern Federal District *2013 *2016 *2013

Tourism-recreational free

zones are under JSC NCR

management

>>

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( - )

( )

(international airport)

/ 3 hours

/ 4 hours

/ 1 hour

(planned)

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-

-

km of slopes

lifts

* beds

* km of slopes

lifts

beds

Acting Resort

>2 years in operation

> thousand visitors in the 15/16 season

*incl. freeride

villages villages

* 400 beds under development

* 1600 low quality beds

Total – 554 beds

Approx. сapex – € 11 000 000

Approx. payback period – 4,5 years

( )

Restaurant

Semi-detached houses Chalets

Spa Centre

Total – 2 147 beds

Approx. Capex – € 35 600 000

Approx. payback period – 6 years

(Greenfield investments)

( )

( )

Total – 6 944 beds

Approx. Capex – € 130 000 000

Approx. payback period – 7 years

(Greenfield investments)

Total – 2 147 beds

Approx. Capex – € 40 000 000

Approx. payback period – 6 years

-( )

(Greenfield investments)

/

% % ( %)

% %

% %

% - %

% –

% –

% –

-

- %

21

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+ ( ) -

+ ( ) -

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