Russian people celebrate after Sochi was chosen as the 2014 Winter Olympics host city during the 119th session of the International Olympic Committee (IOC) at the main square of Russian southern Black Sea resort city of Soch, the host city of the 2014 Winter Olympics, July 5, 2007. (Xinhua/Reuters Photo) Photo Gallery>>>

    GUATEMALA CITY, July 4 (Xinhua) -- The Russian city of Sochi in Krasnadar province, has won the rights to host the 2014 Winter Olympics at the 119th International Olympic Committee's assembly, which formally began here on Wednesday.

    The city's bidding budget of 10.7 billion U.S. dollars is the largest in the Games, although all the facilities planned for use have already been built.

    In the first round of voting with 95 votes, Sochi won 34 votes, South Korean Pyongchang won 36 votes and the Austrian city of Salzburg won 25.

    In the second round where Salzburg was eliminated, there were 98 votes with 51 going for Sochi and 47 for Pyongchang.

    The city is between the snow-capped Caucasus Mountains and the Black Sea, with an estimated population of 400,000 people.

    It will be the first time for Russia to host the Winter Olympic Games, although it has hosted the Summer Games in 1980.

    The 2014 Winter Olympics will run from Feb. 7 to 23.

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