This thesis deals with the influence of the Luhačovice dam on the surroundings, mainly on the price of recreational facilities. Firstly, the thesis addresses terminology, issues concerning dams and valuation methods suitable for these issues. Secondly, the thesis describes the current condition of the dam and its surroundings, the facilities situated in the surroundings and operation costs. The thesis presents a novel method of finding the average price of cottages in given area and comparing it with average prices of recreational facilities in other selected areas. The thesis concludes with an evaluation of the average prices and the economic and security influence of the dam on its surroundings.