pavlov0032
01-17-2008, 08:07 AM
Swiss Say `Spasibo' as Russians Fill Hotels, Buy Gucci Sleds
By Warren Giles and Simone Meier
Jan. 17 (Bloomberg) -- Rolf Seibold, a private banker at Credit Suisse, is posting fliers in grocery stores
throughout Zermatt. He's looking for someone to teach him Russian so he can woo clients among the
fur-clad visitors thronging the Swiss ski resort near the Matterhorn.
``When I went skiing yesterday I only heard Russian,'' said Seibold, 56. ``A couple in the cable car
tried to talk to me, but I only know a few words so I could only smile back. Learning the language would
be worthwhile because they're very wealthy people and, if they feel at ease, are willing to spend and
invest.''
The Swiss are learning to say ``spasibo'' instead of ``thank you'' as Russians flood resorts from
Zermatt to St. Moritz, where skiers can nibble caviar and truffle pizza at 2,480 meters (8,137 feet) or
buy a Gucci sled for 4,700 Swiss francs ($4,310). Russians spend an average of 430 francs a day, twice
as much as Germans, according to Swiss tourist office data.
With the most early-season snow in a decade and rising numbers of visitors from Moscow and St.
Petersburg, the tourist office is forecasting a record winter. Russian overnight stays rose 23 percent to
340,000 in the first 10 months of last year, topping the total for all of 2006. Germany is the biggest
source of tourists, with 5.56 million overnight stays.
Russians have more money than ever, and they ski in Switzerland to show it off, said Kathy Ilyukhina, a
Russian veterinarian who lives in Chicago. Ilyukhina flew to Verbier, two hours east of Geneva, for a
vacation with 19 friends from Moscow.
``Switzerland is the most expensive place in the Alps that I've been, more expensive than Austria or
Italy, but for Russians it's all about prestige and saying you've been to the best place,'' Ilyukhina, 40,
said as she collected her 4-year-old daughter from ski school.
New Year's
Russians flock to Switzerland during the first two weeks of the year, over the Russian New Year, turning
a traditional lull in the winter calendar into a new high season. Since 2005, Russians have enjoyed an
official 10-day holiday surrounding the Julian calendar's Christmas on Jan. 7.
Russians make up 90 percent of guests at five-star hotels in St. Moritz during the first half of January,
said Judith Haid, marketing manager at the 184-room Kempinski Grand Hotel des Bains, where spa
suites cost as much as 5,000 francs a night.
``During these two weeks it's almost impossible to get other nationalities to come here,'' she said.
``Some years ago, the Russians were difficult, but they've learned how to behave and nowadays a table
of 20 Italians is likely to make more noise.''
Hotels such as the St. Moritz Carlton, originally built in 1913 as a residence for Tsar Nicholas II, started
offering gala Russian Christmas dinners this year.
Scorpionfish and Caviar
The hotel, where a suite costs 7,500 francs a night, imported St. Petersburg performer ``DJ Romeo'' for
the Jan. 6 party. The dinner menu, at 395 francs per person, included a caviar and blini starter,
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scorpionfish with champagne veloute, and a variety of vodkas.
As Zermatt and St. Moritz become crowded, smaller resorts such as Samnaun, Flims and Gstaad are
becoming increasingly popular with Russians, according to the national tourist office.
Andreas Scherz, who runs the Palace Hotel in Gstaad, where a suite costs 2,430 francs, said early
January used to be so quiet ``you could hear the radiators gurgle.'' Now he employs a Russian
receptionist.
The number of people in Russia with more than $1 million in assets climbed almost 16 percent to
119,000 last year, a survey by Cap Gemini SA and Merrill Lynch & Co. showed in June. Russia's
economy has grown for nine straight years, boosted by revenue from oil and gas sales.
To capture more of that money, the Swiss tourism office is increasing its marketing budget for Russia by
25 percent to $600,000 this year, hotels are translating their Web sites and ski schools are hiring
Russian instructors.
Leather Sled
Meanwhile, Gucci Group's St. Moritz store is trying to sell its one remaining leather-covered sled to a
Russian visitor.
``They're esthetes,'' said store manager Charles Martin. ``They know what's beautiful.''
With Russian visitor numbers up 36 percent since 2003, Credit Suisse's Seibold hopes to turn pleasure
to profit as he skis the 4,000-meter peaks that surround Zermatt.
``I always have business cards with me, even when skiing,'' he said. ``You never know when you
might run into a potential Russian client after all.''
To contact the reporters on this story: Warren Giles in Geneva at [email protected] ; Simone
Meier in Frankfurt at [email protected] .
Last Updated: January 16, 2008 18:01 EST
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By Warren Giles and Simone Meier
Jan. 17 (Bloomberg) -- Rolf Seibold, a private banker at Credit Suisse, is posting fliers in grocery stores
throughout Zermatt. He's looking for someone to teach him Russian so he can woo clients among the
fur-clad visitors thronging the Swiss ski resort near the Matterhorn.
``When I went skiing yesterday I only heard Russian,'' said Seibold, 56. ``A couple in the cable car
tried to talk to me, but I only know a few words so I could only smile back. Learning the language would
be worthwhile because they're very wealthy people and, if they feel at ease, are willing to spend and
invest.''
The Swiss are learning to say ``spasibo'' instead of ``thank you'' as Russians flood resorts from
Zermatt to St. Moritz, where skiers can nibble caviar and truffle pizza at 2,480 meters (8,137 feet) or
buy a Gucci sled for 4,700 Swiss francs ($4,310). Russians spend an average of 430 francs a day, twice
as much as Germans, according to Swiss tourist office data.
With the most early-season snow in a decade and rising numbers of visitors from Moscow and St.
Petersburg, the tourist office is forecasting a record winter. Russian overnight stays rose 23 percent to
340,000 in the first 10 months of last year, topping the total for all of 2006. Germany is the biggest
source of tourists, with 5.56 million overnight stays.
Russians have more money than ever, and they ski in Switzerland to show it off, said Kathy Ilyukhina, a
Russian veterinarian who lives in Chicago. Ilyukhina flew to Verbier, two hours east of Geneva, for a
vacation with 19 friends from Moscow.
``Switzerland is the most expensive place in the Alps that I've been, more expensive than Austria or
Italy, but for Russians it's all about prestige and saying you've been to the best place,'' Ilyukhina, 40,
said as she collected her 4-year-old daughter from ski school.
New Year's
Russians flock to Switzerland during the first two weeks of the year, over the Russian New Year, turning
a traditional lull in the winter calendar into a new high season. Since 2005, Russians have enjoyed an
official 10-day holiday surrounding the Julian calendar's Christmas on Jan. 7.
Russians make up 90 percent of guests at five-star hotels in St. Moritz during the first half of January,
said Judith Haid, marketing manager at the 184-room Kempinski Grand Hotel des Bains, where spa
suites cost as much as 5,000 francs a night.
``During these two weeks it's almost impossible to get other nationalities to come here,'' she said.
``Some years ago, the Russians were difficult, but they've learned how to behave and nowadays a table
of 20 Italians is likely to make more noise.''
Hotels such as the St. Moritz Carlton, originally built in 1913 as a residence for Tsar Nicholas II, started
offering gala Russian Christmas dinners this year.
Scorpionfish and Caviar
The hotel, where a suite costs 7,500 francs a night, imported St. Petersburg performer ``DJ Romeo'' for
the Jan. 6 party. The dinner menu, at 395 francs per person, included a caviar and blini starter,
Bloomberg Printer-Friendly Page Page 1 of 2
http://www.bloomberg.com/apps/news?pid=20670001&refer=home&sid=aEx.gvaJhzMg 1/17/2008
scorpionfish with champagne veloute, and a variety of vodkas.
As Zermatt and St. Moritz become crowded, smaller resorts such as Samnaun, Flims and Gstaad are
becoming increasingly popular with Russians, according to the national tourist office.
Andreas Scherz, who runs the Palace Hotel in Gstaad, where a suite costs 2,430 francs, said early
January used to be so quiet ``you could hear the radiators gurgle.'' Now he employs a Russian
receptionist.
The number of people in Russia with more than $1 million in assets climbed almost 16 percent to
119,000 last year, a survey by Cap Gemini SA and Merrill Lynch & Co. showed in June. Russia's
economy has grown for nine straight years, boosted by revenue from oil and gas sales.
To capture more of that money, the Swiss tourism office is increasing its marketing budget for Russia by
25 percent to $600,000 this year, hotels are translating their Web sites and ski schools are hiring
Russian instructors.
Leather Sled
Meanwhile, Gucci Group's St. Moritz store is trying to sell its one remaining leather-covered sled to a
Russian visitor.
``They're esthetes,'' said store manager Charles Martin. ``They know what's beautiful.''
With Russian visitor numbers up 36 percent since 2003, Credit Suisse's Seibold hopes to turn pleasure
to profit as he skis the 4,000-meter peaks that surround Zermatt.
``I always have business cards with me, even when skiing,'' he said. ``You never know when you
might run into a potential Russian client after all.''
To contact the reporters on this story: Warren Giles in Geneva at [email protected] ; Simone
Meier in Frankfurt at [email protected] .
Last Updated: January 16, 2008 18:01 EST
Terms of Service | Privacy Policy | Trademarks
Bloomberg Printer-Friendly Page Page 2 of 2
http://www.bloomberg.com/apps/news?pid=20670001&refer=home&sid=aEx.gvaJhzMg 1/17/2008