Charter Trends: Market Shift, Larger Yachts, and a Taste for Adventure

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Welcome to Yacht Charter Market, the weekly newsletter dedicated to the world of yacht charter.

In today’s newsletter:

• Top Story: IYC Charter Consultant, Carrie Freeman on Today’s Top Charter Trends - Market Shift, larger yachts, and a taste for adventure… 🛥️

• Charter updates: Worth Avenue Yachts, Arcon Yachting, Superyacht Partners, Edminston, Blu Cove Yachting and more…

• Destination spotlight: French Polynesia 🦈 🌺

THIS WEEK’S TOP STORY

Charter Trends: Market Shift, Larger Yachts, and a Taste for Adventure…

IYC Charter Consultant, Carrie Freeman on Today’s Top Charter Trends

Since entering the yachting world as a stewardess in 2005, IYC Charter Consultant Carrie Freeman has spent nearly a decade with IYC, gaining deep insights into the yacht charter market. In this Q&A, she shares her observations on current trends. Joining her is IYC Yacht Sales Broker Mark Elliott, with whom she coined the phrase “Let’s Go Yachting!” Together, they offer their seasoned perspective on the latest trends in the yacht charter market.

• SYT iQ data shows an 8.14% decrease in used yacht sales in the first half of 2024, compared to the same period last year. Has this slowdown affected the charter business?

“Yes, absolutely. We are seeing yacht charter calendars with more availability than in the past few years. Many owners are offering incredible last-minute booking discounts to try to capture end-of-season charters,” says Carrie Freeman.

Mark Elliott adds: “Yacht chartering remains positive, with consumers not wanting to commit to purchasing a yacht until the stock market stabilises and the American presidential election results are confirmed. As a result, they are turning to chartering.”

• What are the trends you expect will develop over the coming year?

“We are seeing an increase in groups wishing to travel together, needing more space than six staterooms for 12 guests. There are pockets of destinations worldwide with yachts able to accommodate 20-30 guests in luxurious accommodations, including an incredible fleet in Croatia. Many of these yachts are already sold out for summer 2025. It’s incredible! We need these yachts in more strategic locations worldwide.

We are also seeing increased interest in more exotic charter destinations as clients seek unique experiences. This includes Indonesia, where I was fortunate to experience an incredible broker familiarisation trip onboard the Sailing Vessel Silolona.

Belize is seeing more yachts explore its coastline, offering incredible scuba diving and land excursion opportunities. Bermuda offers guests stunning beauty, excellent fishing, and top shopping opportunities. Other growing destinations include Costa Rica, Antarctica, the Norwegian fjords, the Amazon rainforest, and my favourite, Alaska! Let’s go yachting!” shares Carrie Freeman. 

Mark Elliott comments: “With these off-the-beaten-path itineraries, we are also seeing a rise in demand for expedition-style yachts.

“We also love the motor sailers in Croatia, which offer some of the best value on the market. They provide six staterooms, including two master suites, all the amenities of a superyacht—Jacuzzi, jet skis, seabobs, e-foils, slides, and more—showcasing a fresh, modern decor at a fraction of the cost of a similar-sized power yacht,” continues Carrie Freeman.

• What are the most popular features at the moment?

Carrie Freeman: “Aft pools are becoming increasingly popular and sought after by charter guests. Both on-yacht aft pools and blow-up pools with inflatable docks off the swim platforms are incredible add-ons. These include floating docks and cabanas, creating additional exterior space for guests to enjoy water sports and be together at the water level.”

Mark Elliott adds: “Starlink. Starlink. Starlink! It allows charter guests and owners to stay connected throughout their time aboard at a reasonable cost.”

• In your experience, how are destination preferences evolving?

“Greece and Croatia are our top charter booking destinations this year. The yachts, amazing crew, charming islands, rich culture, and beautiful waters continue to draw our clients for their family vacations. Both countries offer numerous islands and ports of call to explore.

• Reposado is available for charter with IYC, learn more here.

I believe we will see more clients seeking off-the-beaten-path itineraries as they return but wish to explore new places. This includes cruising north from Split towards Rovinj in Croatia and visiting some lesser-known islands in Greece. More clients wish to avoid overrun tourist destinations for a more private and exclusive experience, such as Milos. These two countries also have a lower VAT than neighbouring countries like Italy, France, Spain, and Turkey, making them more affordable options.

We are also seeing clients returning to beloved charter destinations and looking for new ways to enhance their time aboard, such as adding massage services, DJs, bands, photographers, and new excursions,” concludes Carrie Freeman.

Key takeaways:

• Market shift: The slight decrease in yacht sales has increased charter availability, with owners also offering more last-minute discounts.

• Rising demand: Larger yachts for 20-30 guests are in high demand, with strong bookings for summer 2025. Expedition-style yachts are also becoming more popular.

• Popular features: Aft pools, inflatable docks, and Starlink for connectivity are increasingly sought after.

• Evolving destination preferences: Greece and Croatia lead in popularity, with a growing trend towards more private, exclusive itineraries and enhanced onboard experiences. Clients are seeking unique experiences in places like Indonesia, Belize, and Alaska.

LATEST CHARTER UPDATES

Fill the Gap: 66.4m OKTO is available for last-minute charter in the Med with Worth Avenue Yachts:

• 23 August - 15 September 2024

• Western Mediterranean: Monaco-France

• Low: 480 000 euros p/w plus expenses

• High: 550 000 euros p/w plus expenses

• See more here

Destination: 28.5m Benetti yacht Ocean Drive is available for charter in Croatia & Montenegro with Arcon Yachts:

• High: 88 000 EUR; Low: 78 000 EUR p/w

• Based in Split, Croatia, for cruising in Croatia and Montenegro

• Greece and Italy on request

• 12 guests in 5 cabins

• Read more in the brochure

• Contact:

  • Email: [email protected]

  • Phone/ WhatsApp at +377 97 98 32 10

Reductions & Specials: Superyacht Partners is offering a 20% discount for chartering the 66m Oceanco yacht AHS:

• 22 to 29 August 2024

• 600 000 EUR p/w

• Monaco embarkation

• 12 guests in 6 cabins

• Learn more in this brochure

• Contact Gemma Necchi:

  • Email: [email protected]

  • Phone: +34 (0) 6 16 85 59 19

Reductions & Specials: Moran Yachts & Ships is offering a 200 000 EUR discount per week of charter aboard the 95m CC-SUMMER, for charters booked between now and the end of the season:

• 1 400 000 EUR p/w

• Mediterranean

• 12 guests in 10 cabins

• Learn more in this brochure

• Contact:

  • Email: [email protected]

  • Call: +1 954 768-0707

Fill the Gap: Edminston is offering a 20% discount on the 72m Arbema’s final summer gap, between 6 and 30 September 2024:

• 12 guests in 8 cabins

• Western Mediterranean

• High: 725 000 EUR p/w; Low: 600 000 EUR p/w

• Learn more in this brochure

• Contact Virginia Putignani

  • email: [email protected]

  • Phone: +377 93 30 54 44

Reductions & Specials: Blu Cove Yachting is offering discounted rates for chartering 36.70m Baglietto yacht Lady Rina:

• 12 guests in 6 cabins

• Special weekly charter rate between 21st till 31st of August 2024:
  42.000€ (instead of 48.900€) plus VAT plus APA 

• Special weekly charter rate from 9th till the end of September 2024:
  40.000€ (instead of 43.335€) plus VAT plus APA 

• Read more in this brochure

• Contact:

  • [email protected]

  • [email protected]

  • [email protected]

Fill the gap: Fill the gap until 7 September aboard the 72m Serenity, available for charter with Yachtsman in the East and West Med:

• 28 guests in 14 cabins

• 550 000 EUR p/w

• Learn more in this brochure

• Contact: [email protected]

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DESTINATION SPOTLIGHT

French Polynesia: Where Adventure Meets Tranquillity… 🌺🦈 

French Polynesia, a mesmerising cluster of 118 islands spread across five distinct archipelagos in the South Pacific, is a dream destination for yacht charters. This vast, tropical paradise offers an unmatched combination of pristine natural beauty, vibrant marine life, and rich cultural experiences, making it an essential stop for those seeking adventure and tranquillity on the water.

One of the most captivating aspects of this French overseas collectivity is its stunning diversity. The islands are renowned for their turquoise lagoons, dramatic volcanic landscapes, and vibrant coral reefs. Bora Bora, often called the “Pearl of the Pacific,” is a highlight, famous for its towering Mount Otemanu and luxurious overwater bungalows. Here, a yacht charter provides a private gateway to explore secluded bays, snorkel in crystal-clear waters, and soak in the breathtaking surroundings.

For those with a taste for adventure, the Tuamotu Archipelago offers some of the best diving spots in the world. The tiny island of Fakarava, a UNESCO Biosphere Reserve, is a diver's paradise, especially known for its exhilarating shark dives. The island’s narrow channels are teeming with hundreds of reef sharks, creating an unforgettable underwater experience.

Moorea, another gem of French Polynesia, offers a different kind of adventure. Known for its jagged mountain peaks and lush rainforests, Moorea is ideal for hiking enthusiasts. Trails lead to panoramic viewpoints offering stunning vistas of the island’s lush interior and surrounding lagoons. Moorea is also a prime spot for whale watching, particularly between July and October, when humpback whales migrate to the warm waters to breed and calve.

French Polynesia’s rich cultural heritage adds another layer of allure. The Polynesian people are known for their hospitality and deep-rooted traditions. On the island of Tahiti, the cultural heart of the region, visitors can experience traditional music, dance, and crafts, or attend a lively ‘Heiva’ festival celebrating Polynesian culture.

A journey through these islands is also a culinary delight. French Polynesia is famous for its local produce and fresh seafood, particularly its world-renowned tuna and sword-fish. Whether you’re savouring freshly caught sashimi on deck, or dining at a local seaside restaurant, the cuisine here is a blend of Polynesian flavours with French influences, offering an unforgettable gastronomic experience.

Whether you're exploring remote atolls, diving with sharks, hiking to breathtaking viewpoints, or simply relaxing in serene lagoons, French Polynesia offers an unparalleled yachting adventure for all tastes… 🌺

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