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EIV-YACHT
10th May 2021

A charter yacht’s key to success

Time spent aboard a charter yacht is the ultimate holiday experience. For yacht owners looking to maximize on the opportunity, how can you make your yacht truly stand out from the yachting crowd?

There are many reasons why listing your yacht for charter is a beneficial move. Aside from offsetting a boat’s running costs, active charter itineraries help to keep the yacht in good condition and the crew on top of their training. A yacht with a proven charter history can also serve as a sales incentive for commercially savvy owners. But there is more to charter than meets the eye, and simply listing your yacht and waiting for the bookings to roll isn’t advisable.

This is where the role of an experienced and informed charter manager enters the equation. With some of the most proficient and qualified charter management professionals in the industry, IYC positions your yacht and crew in the top echelon of yachts available on the international luxury yacht market. This is further supported by quality marketing material, attractive photography, brochures and sample menus, all created by the IYC team to promote the yacht in its best light.

Some factors are proven to directly affect a yacht’s rate of success on the charter market. The most obvious is the condition that it presents in. Vessels that are less than five years old tend to be preferred, however regular refit and repairs can go a long way to giving older vessels a competitive edge. A well-maintained boat with up-to-date systems and all the equipment required to make a charter memorable will score highly with guests, regardless of its age.

The types of onboard amenities that appeal to guests usually center around entertainment, on and off the yacht. A robust selection of water toys, including the latest must-haves – surf jets, hydrofoils and transparent paddle boards for viewing marine life beneath your feet – rate highly. The more amenities, the better, and a comfortable, reliable tender for shore excursions and exploration is a must. Impeccable WiFi / satellite communication is too, while large music and movie libraries, wellness / gym equipment, and all the gear to dive headfirst into an exciting, active program ticks all the boxes.

Other ways to ensure your yacht garners interest is to offer a competitive charter rate. IYC manages the largest charter fleet in the world with more than 100 yachts across the US, the Caribbean and Europe. This means IYC’s international team of charter managers are in tune with price fluctuations on the market and can provide guidance and advice on the best charter price to enjoy a competitive advantage over other yachts and help maximize bookings.

For many owners, the notion of managing operations and finances associated with charter is an unwanted headache. Again, IYC’s charter management team takes care of all contracts and negotiations, ensuring that the yacht is available and in perfect condition whenever you wish to step aboard. For each yacht on our charter fleet, we develop a targeted marketing strategy with the right value proposition. This is the best way to attract serious bookings, matching a guest with a yacht that is most suited to their needs and, in turn, benefiting the owner by ensuring big ticket items, such as fuel, dockage and utilities, are taken care of by the charterer.

Most charters are booked through charter brokers, but even highly skilled charter managers may struggle to book a yacht whose reputation has been tarnished. Maintaining good repute in the yachting industry is a must, and central to this is employing professional, seasoned crew. It’s often said that crew make or break a charter, and it’s for good reason. Great crew are cited as a key driver for yachts receiving repeat charters. Clients’ standards are high, and well-presented, professional crew who take pride in their work and endeavor to always deliver the best customer service is what is expected.

For most owners, their yacht is considered a home on the water, so entrusting its best interests to someone else is a big ask. That’s why, at IYC, we tailor the charter offering at every turn, attracting the right clientele at the best-suited price to create a coveted, bespoke charter package that works for owner, yacht and guest, every time.

For more information about listing your yacht for charter please contact our Charter Management team here.

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