Resort “Arkhyz” transferred to the management of the company “Mountain Peaks”

Kavkaz.RF and OOO Gornye Verkhny signed an agreement for the sale and purchase of shares in the management company Arkhyz and a shareholder agreement for the right to manage a ski resort in Karachay-Cherkessia. The winning company was determined in the course of competitive procedures that took place earlier at the site of the Ministry of Economic Development of the Russian Federation. On March 6, Deputy Prime Minister of the Government of the Russian Federation Alexander Novak announced the completion of the competition.

The Arkhyz resort was transferred to the management of the Mountain Peaks company ;

In the face-to-face format, the participants of the competition provided their updated proposals – the starting conditions for purchasing the resort were improved by more than 7 billion rubles. JSC “Partners Group” offered the cost of 19 billion rubles with a payment term in 2030, and the company “Mountain Peaks” – 24.2 billion with the same payment year and thus won the competition.

Since opening, the resort has created over 2,100 accommodations. SEZ residents invested almost 4 billion rubles in the territory, more than a thousand jobs were created and saved. It is obvious that the resort has taken place and is ready for further development with private investment,” emphasized Sergey Nazarov, Deputy Minister of Economic Development of the Russian Federation.

The next stage after the conclusion of the contract will be the payment of 25% of the shares plus one share in the amount of 6 billion. The procedure is scheduled for the period March-June, depending on the receipt by the buyer of the necessary approvals and consents from the regulatory authorities. The payment for the second block of shares will take place in 2030, taking into account indexation, the amount will be 23 billion. Thus, the total purchase price of all blocks of shares is 29 billion rubles.

«The average annual growth rate of tourist traffic over the past three years is more than  27%. Last weekend, we welcomed and congratulated the three millionth visitor of the Arkhyz cable cars, which once again proves the relevance of state investments in the territory. We hope that the new owner of the resort will faithfully fulfill all the investment terms of the transaction. Kavkaz.RF, as a state development institution, will monitor compliance with all the terms of the agreement,” says Andrey Yumshanov, Director General of Kavkaz.RF.

Under the terms of the deal, within four years from the date of conclusion of the agreement, Mountain Peaks will have to create at least 30 km of slopes and a single ski area for three tourist villages Romantik, Lunnaya Polyana and Dukka at the Arkhyz resort through the construction of a network of gondola and chair type. Within seven years – to increase the number of hotel accommodations to eight thousand and create at least 500 seats in catering facilities.

Today, this is the most ambitious project in terms of complexity and implementation time. We, as a strategic investor, using our managerial experience in the integrated development of territories, are ready to become part of a great tourist history. The new development strategy is based on the model of an integrated resort, according to which the Krasnaya Polyana Resort is already successfully operating. The city-planning environment, architectural code, common service standards, training, personnel will be under the unified management. The final strategy for the development of the Arkhyz resort will be presented in September 2023, earlier, according to the tender documentation, the master and business plans will be presented, note in the press service of the company “Mountain Peaks ».


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