Charter Sailboat
Q: When you buy a boat into a charter fleet is it to broaden vacation sailing options, to cover the expense of sailing vacations, or is it to make money? Tell us in basic terms what the financial risks and rewards are, and how much it really costs.
The Moorings/Sunsail/TUI Marine
When you buy a boat in our charter management program it reduces the expenses of sailing and owning a boat, as well as broadening vacation sailing options for the owners. We do not promote the program as a business opportunity. In our program, we pay 9 percent of the price of the boat annually and this money is guaranteed to be paid to the owner monthly. However, if the owner doesn’t take advantage of using the boat or sister ships, the program is diminished in value.
Also, We have a variable ownership program in which we sell yachts to owners who have specific needs which fall outside of what we offer in our standard core program. Some buyers want different layouts, models or want more sailing time than we allow in the core program. We have a fleet located in Miami with all variable yachts, and we offer this program in BVI, Abacos and Turkey for Europeans.
– Jean Larroux, Yacht Sales Manager, TUI Marine
Dream Yacht Charter
You do not make money. It is a way to offset the cost of ownership. If you are already someone who charters, then it is a way to improve the charter experience and by owning, you would probably sail more. The cost of ownership would be covered by the guaranteed income and the fact that the charter company pays all other expenses — once the buyer has paid the 20 percent deposit, the guaranteed income covers the mortgage. All other expenses are paid for by the charter company, so for the 5-year term of the management agreement, it is cashless.
There are no financial risks in the guaranteed income program; the charter company pays all expenses and gives the owner a guaranteed payment that will cover the mortgage. At the end of the 5 years there will be a residual on the mortgage, which the owner will have to pick up if he doesn’t put the boat into a secondary or second-tier charter company. Generally, the final numbers work out to a wash, but the owner use, which represents a substantial amount of money if one were chartering someone else’s boat, is free, so there is a big positive value financially. The major advantage of dealing with a large first-tier company is that you have owner exchange at all the bases worldwide. In the case of Dream Yacht Charter, there are 35 bases globally and the owner can use a sister ship at any of their locations. The only cost would be the turn-around fee for cleaning and preparing the boat for the next charter after the owner has used it. This cost typically ranges from $350 to $550 depending on size of boat. The additional other cost would be diesel and the yacht damage waiver, which is insurance to cover the deductible on the insurance policy in the event of an accident. Normally there is a deductible before the insurance kicks in, so the charterer can insure against this by buying the insurance for this.
– Stephen Cockcroft, Yacht Sales Manager, Dream Yacht Charter
**
The Catamaran Company**
Our goal at The Catamaran Company, located at Hodges Creek Marina, British Virgin Islands, is to offer an owner many choices with flexibility. We strive to ensure that we book an owner’s yacht to ensure a 10 percent return per year after fixed charter expenses, charter related expenses and annual maintenance have been paid. We don’t guarantee the 10 percent return but do have the historical data to prove we normally achieve this 10 percent return. The owner can enjoy unlimited owner’s time, a yacht exchange program throughout the world, choice of layout & equipment onboard.
The Catamaran Company offers these programs:
- Reserved for new catamarans, the owner can charter for 3 – 5 years on a 77/23 split management program.
- Reserved for preowned catamarans, 2 years or older, we do offer the 70/30 management program.
We allow any model, make, year and layout into our charter fleet with unlimited owners’ weeks. Owners may equip their yacht as they wish.
– Kimberly Lee, Charter Manager, The Catamaran Company
Horizon Yacht Charters
The prime reason to place a boat in charter is to cover the expense of sailing vacations. It is an investment in lifestyle. Horizon has owners on their third and fourth yachts with us. They, their families and friends, have years of sailing experiences and memories from the best cruising grounds in the world. Depending on the type of yacht purchased, the financial returns can be significantly more interesting than just covering expenses. This is borne out by the fact that Horizon has some owners with more than one yacht in the fleet at the present time.
HYC offers two ownership programs:
- The Guaranteed Income Program (3 years): This provides sufficient funds to cover loan payments (assuming 20 percent down payment for 20 years) All expenses are paid by Horizon, with up to 12 weeks/annum personal usage. No risk. No costs. This program can be converted into the maximum income program for an additional term of one to three years. A financial report and full service history for the yacht is provided on a monthly basis.
- The Maximum Income Program (5 years): This provides for a split of charter revenue, from which the monthly operating expenses are deducted. Owner usage is unlimited. A financial report and full service history for the yacht is provided on a monthly basis.
Fundamentally, an owner should be able to enjoy free sailing for five years, sell the yacht at the end of five years, and come out cash positive. This is influenced by the yacht and program chosen, but with decades of experience in providing charter management to discerning yacht owners, Horizon are very well placed to advise owners according to their requirements.
– Andrew Thompson, Director, Horizon Yacht Charters
Bavaria Yachts USA/Horizon U.S.
Our overall model is to build the Bavaria brand in the United States and to partner with Horizon Yacht Charters in the Caribbean. For the U.S. locations of Mystic, Connecticut, and Annapolis, Maryland, it’s more about owning a boat and sailing it often and less about it being a time share. The focus is that you are the owner of the boat and you use it. We want people to sail Bavarias and get to know them through charters. We are a brand that happens to also offer charter. We offer owners guaranteed income above and beyond covering costs.
– Kenny Feld, Managing Director, Bavaria Yachts USA
CYOA Yacht Charters
At CYOA our ownership program is not a “free boat” or “get rich quick” scheme. We professionally manage boats owned by others, arrange for charters to help defray and sometimes completely offset all expenses. Our owners want a professionally maintained boat ready to go when they walk on the dock. Our owners own and finance their own boats. Our variable programs return all of the revenue and all of the expenses so all of the risk is with the owner. Our guarantee programs ensure we pay 100 percent of the costs and that the owner gets a fixed payment each month for a predetermined number of months.
– John Jacob, Owner, CYOA Yacht Charters
**
Great Lakes Sailing Company**
In northern climates having a boat in management is mainly to offset expenses. A secondary reason is for tax incentives. We offer a very low cost way to own a boat but it is not a way to get a “free” boat. That’s not really possible in a short sailing season. The upside to a short sailing season is that the boats look pristine after 3, 5, 7 or even 10 years of charter with a fraction of the use time compared to southern management companies. This means the resale value is that much better. A higher resale can typically make up for less revenues.
– Dave Conrad, President, Great Lakes Sailing Company
Q: What kind of reciprocity do you get when you place a boat in charter? How many weeks do you get to sail your boat, what does it cost you, the owner, and where do you get to sail?
The Moorings/Sunsail/TUI
Owners of yachts in The Moorings Yacht Ownership and Sunsail Ownership programs have the luxury of getting to sail on their own yacht or on another sister ship located at any of the bases in the program worldwide. Access to sailing is on a point system. Low season is 1 point per day, high season is 2 points per day, and there are no blackout periods. In total, there are 84 points per year. 42 of these points are available with advanced booking outside 16 days and as far out as the end of the contract. The other 42 points are available to use inside 16 days.
There are turnaround fees to cover gas, ice, water, propane, yacht prep and cleaning, use of a dinghy and outboard, cleaning of linens, and chase calls if necessary. The costs of the turnaround fees are dependent on the size of the yacht, and each yacht is categorized in one of 6 groups, A through E. The turnaround costs range from $525 for group A large cats to $285 for small monohulls. We operate in BVI, St. Martin, St. Lucia, Grenada, Belize, Abacos, Tahiti, Australia, Greece, Croatia and Turkey with some destinations having multiple locations.
– Jean Larroux, Yacht Sales Manager, TUI Marine
Dream Yacht Charter
There are 2 weeks of high season that can be converted into 4 weeks of low season, there are 2 weeks of low season and then there are 6 weeks of last minute walk-on if the boat isn’t chartered, so technically you can sail for up to 12 weeks with the right permutation. The truth is that you have between 4 and 6 weeks that can be booked in advance depending on season and the walk on-is a bonus if you can use them. You have worldwide reciprocity at 35 bases around the globe.
– Stephen Cockcroft, Yacht Sales Manager
The Catamaran Company
Our owners may sail unlimited on their very own catamaran in Tortola, BVI. If the owner would like to try a different location other than the BVI, the Catamaran Company then offers the yacht exchange program. The number of weeks the boats are out on charter do differ depending on year, make, model and layout of catamaran. The average charter version catamarans do tend to book an average of 26 weeks a year. Owner versions can do just as well depending on the year of the boat.
– Kimberly Lee, Charter Manager
**
Horizon Yacht Charters**
Horizon offer up two weeks of reciprocity at our 4 (5 when St. Vincent opens in October 2014) Caribbean bases, and owners enjoy special privileges at our Horizon U.S. bases in Annapolis, Maryland, and Mystic, Connecticut. Horizon has also teamed up with charter fleets in Greece, Turkey, Australia, British Columbia and others.
– Andrew Thompson, Director
Bavaria Yachts USA/Horizon U.S.
In our program, the owner is guaranteed at least two reserved weeks blocked out before we book for the season. It could be more and comes down to just a conversation between us. Also, if the boat is not booked, owners can take it out any time on short notice. The only cost to the owner each time is a small cleaning, or, turnaround, fee. Because our business model is boat ownership, we can help owners get discounts at our other U.S. base, or with our partner company, Horizon Yacht Charters, in the Caribbean. Our program is for people who want to sail where there boat is — Mystic or Annapolis — but they can move the boat to other locations the following season.
– Kenny Feld, Managing Director
CYOA Yacht Charters
At CYOA, as a one-base fleet, we can’t offer any alternate sailing destinations. Our owners get between 4 and 12 weeks of use each year depending on the agreement we negotiate with them. Depending on our agreement, an owner can pay as little as zero or as much as the standard turnaround fee for his boat ($600-$1,000).
– John Jacob, Owner
Great Lakes Sailing Company
The owners who have a boat in management with us live within a 7-hour drive range and tend to use their boat more, so reciprocity isn’t really an issue. The owners can sail on their boat as much as they like. We structure the contract around how much they anticipate using their boat. We offer them a discount when they charter south using our charter broker connections.
– Dave Conrad, President
Q: How do you ensure the boat’s well maintained? Is it checked before and after each charter? What maintenance expense is covered by the company, and what is left to the owner to bear?
**
The Moorings/Sunsail/TUI**
Each yacht in the Moorings Yacht Ownership and Sunsail Ownership programs is thoroughly checked after each charter, and debriefing results in a squawk list of things that need attention before the next charter. Periodic preventive maintenance such as oil changes, transmission and engine servicing are done as needed and managed by the operations managers. TUI is 100 percent responsible for all of the boat repairs and nothing is ever billed to the owner. We have found great preventive maintenance helps us avoid more costly repairs.
Annually the yachts receive a major work up where all systems are evaluated, gel-coat repairs are made and any damages to wood surfaces are dealt with. At the end of the program a major end of contract/phase-out maintenance is performed to include antifouling. The detailed procedure is documented in the company’s phase-out manual.
– Jean Larroux, Yacht Sales Manager, TUI Marine
Dream Yacht Charter
At Dream Yacht Charter, there is a pre-charter check which ensures that the boat is continually maintained and then there is a check-back where the customer reports any deficiencies that need to be fixed before the next charter. All costs are covered by the charter company. The owner only bears the mortgage payment.
– Stephen Cockcroft, Yacht Sales Manager
**
The Catamaran Company**
The Catamaran Company prides itself on very high maintenance and catamaran expertise. For every charter that is completed, charter-related expenses apply. These are called turnaround fees, and include diving on the hull after each charter and technical checks after every charter.
Every year in the month of September we close our base and do not offer charters. This is when we haul out every yacht for anti-fouling and hurricane prep. Sailing equipment is checked, trampolines maintained, and decks are polished. Our owners are very involved with their catamarans. It is quite typical for owners to come to our base and sometimes even maintain their own catamarans.
– Kimberly Lee, Charter Manager
Horizon Yacht Charters
Horizon oversees every aspect of yacht specification, delivery, and commissioning, so that each yacht has tried and tested systems, and is commissioned to offer years of reliable service.
Every charter client gets a one-on-one boat and chart briefing, given by a full-time, knowledgeable member of the Horizon staff. We do not contract out briefings. Charter guests appreciate a quality briefing, and in turn, our clients appreciate that the yacht they have chartered is someone’s pride and joy, and treat it accordingly. Upon their return, clients are piloted into their slip, and given a thorough debriefing, comments from which are entered into our turnaround system, and added to our pre-charter service check lists.
Horizon is renowned for preventive maintenance. We have deliberately kept each location’s fleet a manageable size. It is easier to effectively maintain a 40- yacht fleet rather than a 100-plus yacht fleet in any one location. Horizon strives for performance beyond the expectations of both our owners and charter guests. All service work is documented and checked by management; owners receive the service history monthly. Owners have direct contact with the managers and directors of the company, with a guaranteed owner query response time of 24 hours or less. Our maintenance and customer service are the key reasons that Horizon has such a high percentage of repeat owners, repeat charterers, few chase calls, and very low fleet insurance rates.
The yachts are systematically checked by a mechanic, rigger, and shipwright, before and after every charter, including a dive inspection of the hull, with video footage at some locations. This is in addition to quarterly and annual deep maintenance procedures and yard work.
Under the Guaranteed Income Program, all expenses are covered by HYC. Under the Maximum Income Program, the monthly expenses include dockage, turnaround fees, insurance, and maintenance.
– Andrew Thompson, Director
**
Horizon U.S.**
We meticulously maintain the boats because our charter ownership experience is a direct extension of Bavaria ownership. Because we sell boats off of the boats we charter, it is essentially like our standing show fleet. We are 110 percent invested in perfect maintenance. We cover all expenses in our guaranteed revenue program, except any financing/ interest they might pay on a mortgage if they finance. We cover insurance, dockage, monthly maintenance, haulout, etc.
– Kenny Feld, Managing Director
CYOA Yacht Charters
CYOA has a comprehensive maintenance strategy that focuses on preventive maintenance and tries to avoid breakdown maintenance. The process includes extensive pre-charter checks, post-charter oral and written interviews, and post-charter sail and dive checks. Depending on the owner agreement with CYOA , maintenance costs vary from 100 percent to zero.
– John Jacob, Owner
Great Lakes Sailing Company
Our fleet owners are our best reference, and this is what ensures that the boats are well maintained. We are a family-owned company and we know our fleet owners like family as well. There’s a lot of accountability on our end. It really depends on who pays for the expenses. This is where we customize the program to fit an owner’s need. With some of our boats, we pay 100 percent of the operating expenses (everything but the bank note) for up to 5 years, on other boats, the owners pay expenses. It depends on the revenue split and what structure best benefits the owner.
– Dave Conrad, President
Q: Explain the insurance, liability and warranty aspects of the charter yacht management arrangement. Are warranties available?
The Moorings/Sunsail/TUI Marine
All charter yachts are covered on a fleet policy. The yachts are covered for casualty loss as well as an umbrella $10,000,000 P&I coverage for damage to other yachts or personal injury. The policy names TUI, the owner(s) and a lender if the yachts are mortgaged. This cost is borne entirely by TUI. This is the most comprehensive in our industry. Most underwriters have strict limitations on operations in the Caribbean. A number of other companies are not insured to operate between 38 degrees North and 12 Degrees North during Atlantic Hurricane season. We do not have any of these limitations.
– Jean Larroux, Yacht Sales Manager, TUI Marine
Dream Yacht Charter
The boat is normally insured by a group policy where the lender and the owner are the loss payees. The charter company provides a copy of the policy to the owner and the bank. The deductible is covered by a yacht damage waiver insurance that is charged as a daily additional insurance against the deductible to the charter customer. In the event of a claim the owner will not be liable for the deductible because the yacht damage waiver will kick in and cover this.
The warranties are provided by the different manufacturers for the equipment that is on the boat. There is no additional cost for warranty, it is provided by the manufacturer at purchase.
– Stephen Cockcroft, Yacht Sales Manager
The Catamaran Company
Upon the owner accepting our charter management agreement with terms and conditions, he then joins our fleet insurance, which is estimated at 1.8 percent of the hull value. Upon a guest chartering the catamaran, with resume approved by us, the guest will pay a collision damage waiver per day that covers the deductible. If the guest refuses to pay the deductible, the charterer is responsible for the deductible of the hull insurance.
When the owner charters his own boat, he can choose to pay the collision damage waiver per day or the owner can be responsible for the deductible for the hull insurance. On a new yacht, warranty does apply on replacing items onboard. Warranty is normally included the first year on purchase of a new catamaran.
– Kimberly Lee, Charter Manager
Horizon Yacht Charters
An owner’s yacht is 100 percent insured year round under the HYC fleet policy. If a yacht is damaged during charter service, Horizon covers the deductible, not the owner. Horizon management has to review and sign off on every charter client’s resume, checking for experience on a similar size and displacement vessel to the one they wish to charter. Upon arrival, if Horizon has concerns about the client’s ability, Horizon, at its cost, not the owner’s, will put a complimentary skipper aboard to the first anchorage, in order to fully assess the client’s ability.
Each yacht comes with a factory warranty, which is included in the price of the yacht, and the warranty term and conditions vary according to the manufacturer, the terms of which are an addendum to the purchase contract.
– Andrew Thompson, Director
Bavaria Yachts USA/Horizon U.S.
We have the same insurer as Horizon Caribbean.
– Kenny Feld, Managing Director
**
CYOA Yacht Charters**
All boats are insured and have varying amounts of deductibles. Clients are required to purchase a Deductible Reduction Agreement ℠ from CYOA. This reduces their exposure to a lower number that they yehn self insure at boarding.
We do not offer any extended warranties but we do support all manufacturer warranties.
– John Jacob, Owner
Great Lakes Sailing Company
The boat insurance is broken down into hull and liability. Hull insurance is typically a percentage of the stated hull value but can also depend on an owner’s personal history with owning boats. The deductible is also a percentage of stated hull value. The higher the deductible, the less the overall premium. If an owner is responsible for paying the boat hull insurance, most charter companies will require that the deductible be a lesser amount so that it’s on par with the damage deposit the charterers pay. Liability insurance on the boat is a second layer of protection, as the charter company has its own liability that blankets the fleet. That said, a boat will be required to have a minimum liability coverage but the vessel owner can always opt for additional coverage at their expense.
– Dave Conrad, President
Q: When your ownership program is over, do you get the boat free and clear? Can you resell it? What if you don’t want the boat? Conversely, what if you already own a boat and want to charter it to offset some expenses? What are your options for management?
**
The Moorings/Sunsail/TUI**
This depends on the finance terms. If the buyer finances and chooses a typical 25 percent down and 12-15 year mortgage, the income we pay generally is in excess of the P&I required to service the loan. Our records reflect that if the owner does not pocket the excess and pays down additional principal at the end of the typical program (4.5 to 5 years), the residual on the loan should be less than the expected resale after paying a brokerage commission. Catamarans have had great stability on resale, with smaller monohulls seeing a bit more devaluation in recent years.
Reselling the boat is an option, and we assist with this if the owner chooses to sell. We have a well-oiled, worldwide brokerage machine that sells over 200 yachts per year for owners and the ones we take in trade. We recommend listing the yacht 9 months to a year before the end of the program. Another popular option is to trade in the yacht for a new one and continue on in the program. We have some owners on their 5th yacht with The Moorings Yacht Ownership program.
There are a few companies that cooperate with owners and match them with renters if you already own a boat. This is not one of TUI’s business models.
– Jean Larroux, Yacht Sales Manager, TUI Marine
Dream Yacht Charter
No, the boat is purchased with normally a 10 to 12 year mortgage so when you take the boat after 5 years then you still have the mortgage. If, for example there is a 10 year note then theoretically the owner would have 5 years in the first tier company and then 5 years in a second tier company so the note would be covered by charter income for 10 years.
Once you take possession of the boat at the end of the management agreement you are the owner and can sell it or put it into private use or find a second tier home for it – it’s your boat and your decision. If you don’t want the boat, you would sell it , pay the mortgage off and you are out.
There are no options for a used boat to go into a first-tier charter fleet. If you do not buy it new from the operator they will not take it. A second-tier company might consider it but you need to know that they only have revenue sharing programs (no guarantee) and there is no reciprocal use.
– Stephen Cockcroft, Yacht Sales Manager
The Catamaran Company
The Catamaran Company charter management agreement is normally 3 – 5 years, but the owner can cancel by giving us 90-day written notice. We do sometimes renew contracts year to year depending on the condition of the catamaran. The owner can resell if he/she wishes and even consider trading in for a new catamaran. The owner could own the catamaran free and clear, but it really depends on the down payment, mortgage payments and interest rates during its time in charter.
– Kimberly Lee, Charter Manager
Horizon Yacht Charters
The privately owned yachts under Horizon Charter Management are not financed by Horizon; hence Horizon has no involvement in loan re–payment. A yacht may be free and clear based upon the yacht chosen, the program chosen, the term of the program, the owner’s usage, and the amount of the down payment at the outset. If an owner wants to sell their boat, they may list their yacht for sale with our brokerage offices. Horizon will trade in yachts against new yachts being placed into the fleet.
Placing an existing private yacht into a charter fleet will be considered at some locations, if the yacht is relatively new, suitable for charter use, and fits with the current fleet composition.
Horizon also offers a Private Yacht Management Program at some locations for yachts reserved for private use.
– Andrew Thompson, Director
Bavaria USA/Horizon US
In ours, you own the boat, can take it out of fleet the next season, or leave it in, sell it, anything. Our U.S. program is specific, with only new model Bavarias, so we don’t take other brands into fleet or older boats. But other charter companies do, some specialize in that.
– Kenny Feld, Managing Director
**
CYOA Yacht Charters**
At CYOA all boats are owned and financed by the owners and the arrangements for those are boat specific. CYOA does not offer a program where a boat is paid for at the end of the term, At the end of the term owners choose between private use, continued charter with another company or sale. We can help with selling.
– John Jacob, Owner
Great Lakes Sailing Company
We tell our owners to put the money they would normally spend on owning the boat (the money saved from us paying the expenses) toward the principal each month. This greatly reduces the amortized loan period. For instance, having a boat in a Northern fleet, an owner pays their bank note but saves $20,000 a year in expenses, we tell them to apply that to the loan amount so at the end of the 5- year contract they will be much closer to having a boat that’s paid off.
At the end of the agreement, we will offer to sell the boat for them or we will take it back in the fleet for charter. The big difference between Northern charter fleets and Southern fleets is that the boats will have much less use and will be in much better resale condition, or could be in charter service another 10 years before showing wear. We are happy to take in a late model boat that is already owned if the owner decided they want to offset some expenses. The incentives we offer won’t be as good as if they bought a new boat from us but we certainly wouldn’t turn it down
– Dave Conrad, President
Q: Describe what makes your company’s charter management program unique.
The Moorings/Sunsail/TUI Marine
There are a few other companies that have copied, literally copied word for word, our contract. On paper the programs look alike, but the comparison stops there. The Moorings Yacht Ownership program and Sunsail Ownership program have a very limited amount of boats that are over five years old. Others charter management companies have yachts that are twice the age of ours and more, not to mention the fact that their maintenance is suspect in many cases.
Our buying power allows us to work with builders to help design yachts that are easy to maintain, are built tough for charter use and perform well with all expected amenities. The TUI GmbH and TUI Travel connection give the group the financial clout to conduct strategic fleet planning by ordering literally hundreds of yachts at a time prior to selling them. These are placed in the reservations system so the yachts have a backlog of charters before they are even paid for.
Most other companies must wait to find a buyer, place an order and then scramble to get charters. I am of course prejudiced, but I believe The Moorings and Sunsail offer the best customer journey. The large number of annual repeat owners supports my contention.
– Jean Larroux, Yacht Sales Manager, TUI Marine
**
Dream Yacht Charter**
We pay personal attention to the owner’s needs, we are not a corporate environment. We offer a wide choice of brands to choose from and many options when it comes to management agreements that are flexible to meet the owner’s needs.
– Stephen Cockcroft, Yacht Sales Manager
Catamaran Company
The Catamaran Company has been in the catamaran industry since 1989. We offer expert knowledge of Lagoon & Gemini Catamarans from our base in Hodges Creek Marina, Tortola, BVI. Our expertise in warranty issues, preventative maintenance, charter management is unrivaled in the catamaran industry. We offer the owners a flexible program with many choices. He or she can join our fleet for a 1 year, 2 , 3 or 5 years. We allow our owners to choose any layout, any model and the owner may equip the yacht as wanted. We offer the highest return in the industry. The owner has unlimited owner’s weeks. Sail 4 weeks a year or 4 months a year. We customize and tailor-make our programs for our owners.
– Kimberly Lee, Charter Manager
Horizon Yacht Charters
Horizon is the only company in the Caribbean and USA to sell the quality German-built Bavaria monohulls. Horizon also offers Fountaine Pajot and Lagoon Catamarans for placement in the fleet. The company’s founding directors from 1998 still work in the business. Each location is run by partners who have a vested interest in their base, so owners are always working with the same directors and management, for the length of their program. Horizon is able to create bespoke and flexible programs based upon the yacht owner’s requirements. It is “Your yacht, Your way” with Horizon.
The majority of our owners opt for the maximum income, split revenue program which returns a good net income and provides for unlimited sailing, with annual income offsetting operating expenses. HYC manages over 100 yachts located at 4 (soon 5) Caribbean bases, which allows for excellent yacht owner to base manager relationships. Personalized attention, with hands-on knowledge of each yacht by the staff overseeing its maintenance, is a unique benefit for Horizon owners.
Also important is the “hassle-free” experience of the owners when personal time is booked. Their preferences are known and personal gear is placed aboard from a dedicated storage area. An owner may be sailing within an hour of arrival at one of our bases.
– Andrew Thompson, Director
Bavaria Yachts USA/Horizon U.S.
Our mission is to promote ownership and charter of the Bavaria brand and allow owners to sail as much as they wish.
– Kenny Feld, Managing Director
CYOA Yacht Charters
Owner on site, high level of client screening and high level of personalized interaction with each boat owner for maintenance and for fitting out their boat with their own unique vision is what we stand for. We are not a cookie cutter management company; all of our boats are equipped to reflect the owner’s desires.
– John Jacob, Owner
Great Lakes Sailing Company
We have a program called the “Learn – Sail – Own” program. This is a simple stepping stone format for buying a boat and it takes away all the reasons people have for not buying a boat: The “Learn” part is that we offer customized sail training on a new model boat with an ASA certified instructor/captain. We look at what they need to learn as a couple or family to safely and competently sail the boat they might want to buy.
The “Sail” part is where we offer the same new model boat for charter for any length of time for an ultimate “try before you buy.” It gives people the ability to make a very educated decision about that boat. Then the “Buy” part is where we can offer charter management or they can just sail it away to their own home port.
For charter management, what makes our program unique is that we offer very customized management programs to fit an owner’s financial situation. From the first conversation, we talk them through a flow chart of what boat suits their needs, how much they plan on using it, what their short and long term plan might be. Even if they don’t elect for charter management, we’ll set up maintenance program and sail training for hassle-free ownership.
Our “Learn – Sail – Own” program is very popular, allowing people to really get familiar with Hunter, Jeanneau and Gemini catamarans before taking the plunge into ownership.
– Dave Conrad, President
