For New Year's Eve in a quaint fairy tale setting, Kitzbühel is GAYOT's top pick. This ninth-century town has been attracting glamorous revelers ever since Kirk Douglas and Coco Chanel put it on the see-and-be-seen map. A romantic mood takes over as the clock ticks toward midnight, with restaurants and hotels hosting gala dinners and horse-drawn sleighs jingling past medieval houses on traffic-free, cobblestone streets. The big draw, though, takes place on the Hahnenkamm race course. Drinking hot wine and singing folk songs, crowds gather at the base to watch members of the Rote Teufel ski school. Beneath a fireworks display (one of the best in the Alps) choreographed to music, the skiers welcome the New Year with an unforgettable torch-lit performance on the slopes.