Ukrainian billionaire Victor Pinchuk spent $6.2 million on Saturday night to entertain 300 guests at his 50th-birthday party in the posh French ski resort of Courchevel.

He not only flew in Canada’s Cirque du Soleil but also hired superchef Alain Ducasse to prepare the menu at one of Courchevel’s 11 five-star hotels.

But the steel magnate’s birthday blowout revolted many locals in an area tired of being a winter playground for the Eastern European jet set.

Ultra-luxury hoteliers can expect new competition from French luxury goods company LVMH Moet Hennessy Louis Vuitton, the Wall Street Journal reports.

LVMH also said it created LVMH Hotel Management to “oversee the group’s activities in the luxury hotel sector” and to “maximise the value of its brands,”.

Two new hotels, named Cheval Blanc after LVMH’s vineyard, are currently being built in Oman and Egypt and are proposed to open in 2012.

The Maison Cheval Blanc in Oman is on the 11 square- kilometer island of Al Sodah and includes 32 private villas, LVMH said.

When it comes to winter luxury, one ski destination continues to rank top of the list - Courchevel in the French Alps, according to leading private air charter broker Oxygen 4, is the ski resort at which to see and be seen.

And even this year, with the credit crunch biting, some of the resort’s most sumptuous hotels were already fully booked six months ago for the peak January fortnight 2-14th with some guests paying upwards of €50,000 to ensure the best accommodation.

Courchevel ski resort has teamed up with Lacroix to present a pitara full of skiing essentials.

This elite set comprises a pair of Courchevel Ski Exclusive, a pair of Lx Smatrack, carbon sticks, leathered gloves, a ski mask and two empty leather pockets.

All this is encased in a luxury leather trunk that is exclusively signed by Pinel and Pinel.

A drawer on the bottom provides additional storage space. Fitted with wheels, the case can be easily tagged along.

Only 10 such cases will roll out for a whopping price tag of 50,000 euros (about $70,000) and they will be available at Lacroix boutique at Courchevel . You can also check out their website lacroix-skis.com

Via 360dgrs