Apart-Hotel YES, Sea Breeze: Full Itemized Rental P&L From $98,242, Not Just a Headline Yield

A yield backed by a real, itemized calculation — exact nightly/monthly rates, occupancy assumptions, and the operator's fee structure spelled out — is meaningfully more checkable than a single "up to X%" headline. It also matters that the operator has an actual multi-year track record (14+ years, thousands of rooms already operating) rather than being a new entrant making projections with no history.

936 rooms across 16 floors, delivered fully furnished and finished to a 4-star hotel standard. Developer: Agalarov Development. Operator: YES (apart-hotel network, founded 2011 in Russia, expanding to 14 properties / 11,500+ rooms across Russia and the CIS by 2029). Located inside Sea Breeze, the same Caspian coast resort district as Raffle Residences & Hotel Swissôtel (also in this catalog) — a 750+ hectare development with its own casino, water park, yacht pier, and circus.

Unit types and full rental income calculation (developer's own figures, before tax):

• Studio (28.65 m²): $98,242 → $15,408/year net profit → 15.68% yield (22.42% with capitalization)
• Standard (33.00 m²): $108,007 → $15,922/year net profit → 14.74% yield (21.48% with capitalization)
• Suite (67.09 m²): $215,524 → $28,762/year net profit → 13.34% yield (20.08% with capitalization)
• Executive Suite (88.71 m²): $281,360 → $30,967/year net profit → 11.01% yield (17.75% with capitalization)

Calculation assumes an 80% short-term / 20% long-term rental mix, before taxes. A separate "tenant package" (furnishings top-up) is not included, estimated from $1,000.

"Max Profit" revenue-share program: owner keeps 70% of long-term rental income and 40% of short-term rental income; the management company's share (30% long-term / 60% short-term) covers marketing, 24/7 reception, bank/tax administration, guest vetting, and — for short-term — cleaning, laundry, internet and OTA (booking platform) commissions. For individual owners, the management company also acts as tax agent, remitting 14% of the owner's income to the state directly.

Is the yield a marketing number or a real calculation?

It's a full calculation: the source document shows exact nightly and monthly rental rates, occupancy assumptions (75% short-term, 90% long-term), and the management company's fee structure line by line, arriving at documented net yields of 11.01–15.68% depending on unit type (before tax).

What share of rental income does the owner actually keep?

70% on long-term rentals, 40% on short-term rentals. The management company's cut (30%/60% respectively) covers marketing, reception, bank and tax admin, guest vetting, plus cleaning/laundry/OTA commissions specifically for short-term stays.

Does the operator have a track record, or is this their first project?

YES has operated since 2011 and currently runs 4,205 rooms across 5 completed properties in Russia and the CIS, with 9 more properties (7,400+ rooms) under construction, and industry awards including Urban Awards (2019, 2021, 2022, 2024) and a Booking.com Traveller Review Award (2024).