"The committee got its wish, Russia got its Games and now Sochi is at risk of becoming a gold-rush town that just ran out of gold. A recent report by Moody’s Investors Service said that the area would need to double its flow of visitors, to at least five million a year, to keep the hotels full. That is highly unlikely. Real estate companies estimate that occupancy rates could fall to between 35 percent and 40 percent after the Games, the report said.
It is unclear where additional tourists will come from. Like many hoteliers here, Brian Gleeson, the general manager of the Radisson Blue Beach Resort and Spa, is not looking to the United States market, and he has written off Europeans for at least a year. Americans and Europeans have vacation options closer to home, in countries that will not require them to obtain a visa to enter.
“What we need to do is focus on getting the home market up and running,” Gleeson said on a recent afternoon. “That’s 145 million people, and we need to get very creative about giving those people a reason to choose Sochi.”
http://www.nytimes.com/2014/02/24/sports/olympics/sochi-olympics-construction-weighs-on-citys-future.html?hp
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