Sochi

This Russian resort city was selected to host the 2014 Winter Olympics. Despite a more mild climate than one would expect from a Russian city, Sochi, located on the Black Sea, is expected to be a prime location to host the Olympic Games. While temperatures hover above freezing in the city, the Caucasus Mountains looming in the background will provide the skiing and other outdoor ice sports venues. (Looks like a prime spot for the winter games, or just a nice cruise.)
Certainly a shocking selection by the IOC, the Sochi Games are expected to be a great success with construction already underway. The plans for Sochi's Olympic Park are to have all of the indoor arenas be within walking distance of one another to promote fan friendliness.

(Unfortunately they have snowboarders in Russia too...not that I wasn't expecting it from them.)

As for the skiing, the events will be held 37 miles away at Krasnaya Polyana, a posh ski resort offering a wide variety of chalets, hotels and restaurants. Krasnaya Polyana made its name in the 1990s because of the heli-skiing it offered. With a vertical drop of over 5,500 feet, there is a whole bundle of terrain to explore.

(Yea, I'd hit that. Notice the guy climbing up towards the bottom? What a boss.)