While the world’s leaders and elites gather in Davos for the World Economic Forum’s annual meeting, some of them enjoy lavish accommodations at exorbitant prices. At the same time, locals struggle to find housing.
French journalist Lynn Sachs managed to get a glimpse of one of these chalets, where a presidential delegation is staying for the duration of the conference.
The identity of the mystery guests is a closely guarded secret this year, as the owners of the chalet refuse to disclose any information.
The chalet is a three-level building that overlooks the picturesque town of Davos and the snowy mountains. It has an indoor pool, a spa, a fireplace and a gold coat hanger for the president’s coat (his ministers get silver hangers instead.)
Additionally, the delegation arrives with a personal butler who attends to the president’s every need 24 hours a day.
The guests also have multiple private chefs who work in a fully equipped kitchen and can cook any dish they desire. Kitchen staff are even given a copy of a key to the local supermarket so that they can fetch any necessary ingredients after hours in case the need arrives.
The cost of renting the chalet is astronomical at nearly $600,000 per night. Meanwhile, even normal Airbnb prices have skyrocketed to thousands of dollars per night. Things have gotten so bad in Davos that even the Swiss delegation had to spend over budget to house its staff.
Many residents are being forced out of their homes by landlords who want to cash in on the high demand for accommodation during the summit.
According to Joshua Verhoeven, the president of the local social democratic party, some rental agreements allow the owners to evict the tenants during the WEF week.
“We have been feeling a slight emigration in Davos for years, especially among younger people. Finding an apartment is very difficult or very expensive,” said Verhoeven.
“There are owners who sign special rental agreements. These regulate that tenants can practically be thrown out of their apartments during the WEF week. So that the owners can earn a few thousand francs more during this time.”
Several property owners speaking anonymously confirmed with the Swiss outlet Pomona that the practice was common.
