The luxury yacht charter market is growing, and the charter fleet continues to expand. With access to exclusive destinations, privacy, state-of-the-art amenities, and luxurious accommodation, it’s easy to see the advantages of chartering a luxury yacht and why it’s so popular.
But what is not so obvious is the benefit of chartering to the luxury yacht owner. However, offering a yacht for charter or placing a yacht with a luxury yacht charter management firm can yield a range of benefits, enhancing the yacht ownership experience.
Income Generation
Chartering out a luxury yacht when it is not in use can generate significant income for the owner. The charter fees can help offset the costs of ownership, including maintenance, crew salaries, insurance, and mooring fees, making yacht ownership more financially sustainable.
Tax Benefits
Certain countries offer tax incentives for commercial yachts engaged in charter activities, such as reduced VAT rates or tax deductions for expenses related to chartering.
Maintenance
Regular charter activity guarantees a luxury yacht is regularly serviced and maintained by a professional crew, keeping it in pristine condition for safe and efficient operation for both charter guests and the owner. This ensures no minor issues turn into major problems, which could affect the yacht’s value or attractiveness as a luxury charter yacht.
Marketing
Chartering a luxury yacht increases its visibility within the yachting community, and among potential yacht buyers. Word of mouth is one of the most valuable marketing tools, and charter guests may recommend the yacht to others or be interested in purchasing a similar yacht for themselves. In this way, chartering provides valuable networking opportunities for the owner to maximise the luxury yacht’s charter potential, as well as generate potential leads for the shipyard.
Flexibility
Chartering offers flexibility for owners who may not have the time, or the inclination, to use their luxury yacht all year round – without impinging on an owner’s enjoyment of their yacht. Charter agreements permit owners to block out specific dates for private use, or an owner can choose to charter the yacht for specific seasons or set periods, allowing them to maintain control over their asset while still generating income.
Chartering also doesn’t have to be an administrative headache for an owner. Professional luxury yacht charter management firms, such as Sanlorenzo Charter Fleet (SLCF), offer comprehensive services for charter yacht owners, including marketing of the luxury yacht to the world’s charter market, booking management, crew recruitment, tailor-made insurance policies and financial administration.
Outsourcing these tasks to luxury yacht charter professionals can streamline operations and ensure a yacht is run efficiently and profitably, bringing great benefit to the owner, and maximising the return on the investment they have made in their luxury yacht.
To find out more contact our expert Sanlorenzo Yachts UK team via [email protected] or +44 (0) 2380 450 001.
