The Manzherok ski resort in Altai, launched in 2025, has turned into one of the most closed and expensive vacation spots in Russia. The project was initiated by Sberbank Chairman German Gref, who aimed from the very beginning to create a counterpart to the French Courchevel in Altai — an elite complex focused on the ultra-wealthy segment. According to an investigation by Meduza, based on internal resort documents, 13 guarded villas of up to 1,400 square meters each were built in Manzherok, each serviced by its own checkpoint. The cost of accommodation reaches 500,000 rubles per night, and a week in the most expensive "Moscow" chalet costs almost 3 million rubles.
"The Russian Courchevel": Gref's vision
The idea of creating a world-class resort in Altai, according to Gref himself, was dictated by the geopolitical situation. "While Europe is closed, we'll swap the word 'Courchevel' for 'Manzherok'. And everyone will come to us," the head of Sberbank said, explaining the project's logic. The goal was to attract those to Altai for whom European ski resorts have become less accessible due to the war in Ukraine and Western sanctions. According to TASS, in August 2026, Gref also announced the construction of a satellite city with a population of 16,000 people opposite the resort, which points to large-scale, long-term plans for developing the area. MK reported in August 2026 that Manzherok would become one of the world's largest year-round resorts.
13 villas, butlers, and 24/7 security
The Manzherok infrastructure is designed for the highest level of privacy and service. Each of the 13 villas is equipped with a separate checkpoint, and guests are served by butlers, have access to personal vehicles, and 24/7 security. According to Meduza, the complex's procurement records feature Italian furniture, including an armchair and ottoman costing 1.7 million rubles, as well as sanctioned products. The nightly rate reaches 500,000 rubles, making Manzherok one of the most expensive vacation spots in the country. This level of service and pricing is comparable to elite Alpine resorts, matching the original concept of the project.
Who spends millions: oligarchs, officials, hackers, and the FSB
According to the resort's documents obtained by Meduza, guests at Manzherok include Russian billionaires, high-ranking officials, hackers, and intelligence officers, including those from the FSB. In February 2026, a stay at the resort was paid for by the Magnitogorsk Iron and Steel Works, owned by billionaire Viktor Rashnikov, whose property in France was frozen due to sanctions. Between February and March 2025, according to the same data, oil magnates may have visited the resort. Guests are provided with personal security and a butler, and the menu includes products subject to sanctions. Such a guest list confirms that Manzherok functions as a closed space for the Russian establishment, where the interests of business, government, and security forces intersect.
Context: from resort to city
The Manzherok project is not limited to the ski complex. The stated plans to build a satellite city for 16,000 residents turn it into one of the largest infrastructure projects in Altai. Sberbank, acting as the main investor, is effectively creating an ecosystem where the resort, housing, and urban infrastructure form a closed loop for the target audience. In conditions where a significant part of the Russian elite is restricted from accessing foreign resorts, Manzherok is becoming not just a vacation spot, but an element of domestic social infrastructure for those at the center of the country's decision-making process.
