The first YE’S apart-hotel opened in St. Petersburgh

On November 13 in St. Petersburg there was held the opening ceremony of the first apartment hotel of the YE’S network, which is developed by Pioneer Group.

The first YE’S apartment hotel is located in the Vyborg district of St. Petersburg and is a 16-storey building with a total area of about 52,000 square meters. The apart-hotel comprises 975 apartments of three categories: standard, superior, deluxe. Their area varies from 27 to 42 square meters. The apartments are fully furnished and equipped with the necessary appliances and ready for a comfortable stay. The apart-hotel YE’S also includes: underground parking for 76 parking spaces, a Gio Wellness fitness center with a 25 meter long swimming pool, a spa, a restaurant, and other facilities and trade services.

“The YE’S apart-hotel is one of the first projects in the segment of long-term rental housing, which was built with the involvement of private and institutional investors in St. Petersburg. Currently a number of projects are pending, however, our apartment hotel can be rightly considered a pioneer in the development of a new format for the real estate market “, – said General Manager of the YE’S apart-hotel chain Alexander Pogodin.

“Today, we need to look for ways to work with investors within government programs for the construction of rental housing. One of them is the rental payments subsidy. Nowadays the city provides housing to certain groups, and such units as YE’S apart-hotel may help to resolve this issue. In connection with this the rental market clearly needs to be developed, – vice-governor of St. Petersburg, Marat Hovhannisyan, noted during the inspection of the apart-hotel. – I am satisfied with this project, and we will help to further develop similar initiatives. Judging by the fact that at the present time almost all the apartments have been leased, there are good prospects for this sector.”

The demand on this format from both investors and tenants became the basis for the decision to establish the chain. Currently Pioneer Group is building and designing two more apartment hotels in Moscow (at the metro stations “Mitino” and “ Botanichesky Sad”), also the possibility of entering into new regions showing steady growth is being considered.

“We are studying international experience and developing new formats for the Russian real estate market in Moscow and St. Petersburg. YE’S apart-hotel became the response of Pioneer Group to the growing demand for reliable assets from private and institutional investors, and it also contributed to the development of a civilized market of long-term rental housing. Demand for our product from both investors and tenants has led to the idea of creating a chain of YE’S apartment hotels», – said General Director of Pioneer, Saint Petersburg division, Yuri Grudin.

YE’S managing company is soon going to offer developers of apart-hotels its services in supporting projects: from the choice of a land plot or a unit for reconstruction to the management of apart-hotels or cooperation under a franchising agreement (granting the right to use the YE’S trademark and standards).

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