Ezhovaya ski resort considers selling for 3.5 million dollars

‘Ezhovaya Ski Resort Ltd. has been considering several options to attract more investments into development and modernization. Among them are applying for a $2-2.5 million loan, finding an external investor and selling the business,’ said Deputy Director Alexei Khvostov.

According to Mr Khvostov, the business has been re-evaluated, all loan application papers have been collected and drawn up, and the ski resort has been put to auction (the opening bid is 3.5 million dollars).

‘Extra investments are a must if you want to develop the business; the snow and mountainside equipment is obsolete and has to be upgraded, which provide for more months available for skiing throughout the year. The season of 2005-2006 was not a good one because of really warm December and extremely cold January; this naturally resulted in fewer revenues,’ Mr Khvostov said.