CLUSTER YACHTING MONACO: OPEN DAY WINTER EDITION 2020

After a period of break of events due to the sanitary crisis and confinement, Cluster Yachting Monaco organised Thursday 8th October the first Winter Edition of their annually Yachting Open Day. A series of yachts available for charter and/or sale have been presented to the key brokers of the industry and their related clients or other yachting entities.

It has been the first yachting open day organised in Monaco this year, at the Yacht Club, after the Covid-19 lockdown. It has been interesting to meet the different professionals of the industry and have the opportunity to network and exchange thoughts, ideas and present some of the yachts available in the market.

Before the yacht visits, a detailed but short presentation has been organised to share the key yachting figures of this year 2020. As we can see we are living a period of strong change, which influences the way clients appreciate yachting and their related lifestyle.

The majority of the yachting companies had to strongly invest in digital platforms to stay at the beat of this change and adapt as quickly as possible to the new trends and regulations.

From a sales perspective the clients’ demand did not change. What has changed is the relationship between brokers and clients due to the travel restrictions. Zoom conferences and virtual yacht visits have been organised for most of the time. The number of yachts sold is in line with the one of the past years, meaning that the cancellation of yacht shows has not influenced the yacht transactions that much, but rather the human approach to yachting.

From a charter standpoint, the MYBA association has carefully analysed and modified the charter contracts. A series of Addendums have been inserted to offer clients the possibility to postpone their charter bookings without any financial loss. Numerous charters have been postponed to 2021, and little have been cancelled. These new Addendums will be active for next year too, allowing clients to freely book their charters without major consequences.

Even though this year has been challenging and unusual, we strongly believe that the clients’ requests for charters and sales is still present. During this period of crisis, as the Billionaire Reports shows, the number of UHNWI has increased worldwide. The demand for fun is still present and we hope this pandemic situation is going to pass by quickly to give the chance to our clients to fully live their unique experiences and long-lasting moments on board.