St Moritz is more than a world famous winter sports resort and host of two Winter Olympics (1928 & 1948) and a FIS World Championships in 1974 (and 2003). Historians think that the idea of "winter holidays" in high mountains started in St Moritz at the beginning of the 20th Century when British tourists visiting St Moritz in the summertime were invited to return during Christmas. It was such a success that they came back with more friends - starting a new business for the hotels which used to close before when the first snow came down. Now St Moritz is one of the most glamorous stops for the international jet-set and a beautiful ski resort with no less than five ski areas around the town. After World War II, the local ski club organized a traditional competition on the Piz Nair slopes, the "White Ribbon" which attracted top racers from all over the world. In 1971, the World Cup stopped there for a make-up race because of poor snow in Wengen for the Lauberhorn. It was an exciting competition re-invigorated St. Moritz which hosted the 1974 FIS World Championships. No major races were held there after 1980 until St Moritz was elected as the site of the 2003 FIS World Championships. The local committee invested much resources and energy in designing new racing facilities to welcome back the top athletes of the World Cup which celebrated their comeback in March 1999 with two women's races.