Also known as Planerskoye, is one of the most popular resort townlets in the Crimea, situated on the shore of the Black Sea about halfway between Feodosiya and Sudak. It is best known for its literary associations. The Russian poet Maximilian Voloshin made it his residence, where he entertained many distinguished guests, including Marina Tsvetayeva, Osip Mandelshtam, and Andrey Bely (who died there). They all wrote remarkable poems in Koktebel.
You can go for a horse back ride into the national park
Great beaches for swimming
Accommodation in Koktebelj is a bit more expensive than many of the other places in the Crimea (and a lot nicer too). For US$20 per night (for up to 3 people) you can get a western standard room. If you're looking for something a bit cheaper head east down the main road towards the large Arab looking hotel. Around the hotel you should be able to find accommodation for US$5-10, and for the price it will generally be quite clean and nice.