Base model: an 8-module glamping resort
Let's take a typical project — a glamping resort with 8 glass modules of 28 m² each, a shared restaurant pavilion and a spa area. Location: the Moscow Region, 1.5 hours from Moscow.
Project investment
| Item | Amount, RUB million |
|---|---|
| 1-hectare recreational plot | 4–8 |
| 8 glass modules of 28 m² | 14.4 (1.8 each) |
| Restaurant pavilion, 80 m² | 5,5 |
| Spa pavilion, 40 m² | 3,2 |
| Utilities and engineering | 3 |
| Landscaping and pathways | 2 |
| Furniture, textiles, tableware | 2,5 |
| Launch marketing | 0,8 |
| Total investment | 35,4–39,4 |
Revenue model
- Average nightly rate: RUB 12,000 per module
- Summer occupancy (May–September): 80%
- Shoulder-season occupancy (March–April, October): 50%
- Winter occupancy (November–February): 35%
Weighted average annual occupancy: 55%. Annual accommodation revenue: 8 modules × RUB 12,000 × 365 × 0.55 = RUB 19.3 million.
Additional revenue from the restaurant and spa: +30% = RUB 5.8 million.
Total annual revenue ≈ RUB 25 million
Operating expenses
- Staff (3–4 people): RUB 4.2 million
- Food procurement: RUB 1.2 million
- Utilities and maintenance: RUB 0.9 million
- Marketing and advertising: RUB 1.5 million
- Taxes and fees: RUB 2.4 million
- Maintenance reserve: RUB 0.8 million
- Total OPEX: RUB 11 million
Profit and payback
Net annual profit ≈ RUB 14 million
With RUB 37 million invested, the payback period is: 37 / 14 = 2.6 years = 32 months
The service life of the glass modules is 50+ years with minimal maintenance. The project's 10-year IRR is approximately 35–40% per annum.
What improves payback
- Waterfront location (+15% to the rate)
- Scenic setting (mountains, forest, fields) (+10% to the rate)
- Distinctive architecture (Instagram effect) (+8% to occupancy)
- Spa and restaurant with local cuisine (+15% average check)
What increases risk
- Difficult logistics for guests (more than 2 hours from a major city)
- No attractions within a 30 km radius
- Seasonality with no winter program (banya, snowmobiles, hunting)
- Weak marketing — no active presence on Booking, OneTwoTrip and other aggregators
Real case study. QUARTZ ECO delivered 8 modules to the Tver Region in 2024. Payback period: 26 months, average annual occupancy 62%, average check RUB 14,000. The client is now expanding to 16 modules.