Yes.

To add the wiki description:

A yacht is a sailing or power vessel used for pleasure, cruising, or racing. There is no standard definition, so the term applies to such vessels that have a cabin with amenities that accommodate overnight use. To be termed a yacht, as opposed to a boat, such a pleasure vessel is likely to be at least 33 feet (10 m) in length and may have been judged to have good aesthetic qualities.

The Commercial Yacht Code classifies yachts 79 ft (24 m) and over as large. Such yachts typically require a hired crew and have higher construction standards. Further classifications for large yachts are: commercial—carrying no more than 12 passengers, private—solely for the pleasure of the owner and guests, or by flag, the country under which it is registered. A superyacht (sometimes megayacht) generally refers to any yacht (sail or power) longer than 131 ft (40 m).