The Russian government has issued a decree to regulate hotel room rates during the Sochi 2014 Winter Olympics.
On Monday, the Russian government issued a decree regulating the maximum prices for different types of accommodation in the Krasnodar region during the Sochi Winter Olympics, taking place in February 2014.
According to the statement, the new measures are part of a scheme by the government to encourage tourism during the games.
A maximum price of 13,896 rubles ($450) per person per night for a luxury suite has been set, while king-standard rooms in five-star facilities must cost no more than 10,569 rubles ($342), regular rooms in four-star accommodation are limited to 6,492 rubles ($209), and those in three-star hotels are limited to 5,741 rubles ($185). The decree also sets a maximum price for a double standard room in a one or two star hotel of 4600 rubles (around $150).
The freeze takes effect in January 2013 and remains until July 2014.
In preparation for the Winter Olympic Games, the region has created 27,000 hotel rooms, making a total of 47,000 available rooms for tourists attending the games.
As part of the region's development in preparation for the Games, a new Olympic Park is under construction as well as mountain venues and a rail line designed to transport spectators from the coast to the mountains.
Sochi is already a popular tourist destination with Russians, who visit its beaches and shorelines in summer months.