# Financial Benchmarks

## Purpose

This document collects early benchmark ranges for Specus Village financial modeling.

These are not final numbers. They are starting assumptions that must be validated by location, land, construction method, legal model, and operating model.

## Important Caveat

Some current benchmarks come from Russian glamping and eco-hospitality examples.

They are useful for thinking about structure, but not directly transferable to Spain, Vietnam, or China.

## Early Benchmark Signals

- very small glamping examples can start around 8-12 million RUB
- 20-unit hospitality-style concepts may require 160-180 million RUB plus common buildings
- accommodation units can represent around 40% of CAPEX
- common/guest infrastructure can represent 20-40% of CAPEX
- land preparation, roads, and utilities can represent around 20% of CAPEX
- design and professional fees should be modeled at 5-10% of CAPEX
- contingency should be at least 10% of CAPEX
- OTA commissions can be 10-20% of booking revenue
- simple payback examples range from 1.5-2 years in small local cases to 3-5+ years for larger concepts

## What Must Be Validated

- land cost
- land lease terms
- housing unit cost
- delivery and installation
- local labor cost
- permit timeline
- infrastructure cost
- legal and tax structure
- staffing model
- annual occupancy
- average daily rate
- seasonality
- maintenance cost
- insurance
- marketing cost