Boatloads of Fun
By Catherine Sharick
The world's elite voyagers have become accustomed to certain things: spacious rooms, personal chefs, parking for their helicopters. But traveling by boat used to mean sharing space with hundreds if not thousands of fellow passengers. No need for that. Mega-yacht charters now enable you to cruise the club scene in St.-Tropez, explore Alaska's fjords or simply enjoy a massage and a martini from the comfort of your own floating hotel.
Demand has never been greater. "The wealthy population is increasing faster than ever before," says Milton Pedrasa of the Luxury Institute, a ratings and research firm. "These people want vacations with unmatched personalized experiences that only a yacht charter can provide." Yacht companies are reporting a massive increase in rentals. "Our charter business has tripled over the past five years," says Jillian Montgomery, CEO of Camper & Nicholsons, which sells yachts and manages charters for boat owners. Among the hottest rentals are mega-yachts: those personal islands ranging in size from 150 ft. (45 m) to 500 ft. (150 m)--a skyscraper turned on its side.
The cost of being wined and dined at sea ranges from $50,000 to $500,000 a week, not counting tips and expenses, which may include food, fuel and beverages, depending on the terms of agreement. Part of the thrill is that nothing is beyond your reach if it's within your means. Guests plan their itineraries, choosing which ports to visit and how many days at sea or in harbor while visiting such places as Monaco. Then again, staying aboard can be appealing. Many yachts are outfitted with gyms, pools and movie theaters. Feel free to invite friends, as most sleep 12. Guests on the 153-ft. (47 m) Argyll can use its 24-ft. (7 m) tender or kayaks to explore the coast in places like the Exumas in the Bahamas. "If you put your hand out, a drink will be in it," says Jill Bobrow, editor of Showboats International.
Many owners choose to charter their boats to offset the costs of yearly maintenance, which can run from $1 million to $4 million, as well as to keep their staff in top shape. "The best crew is a crew that is always working together as a team," says Mark Mitchell, owner of the motor yacht Sovereign. A well-trained staff knows how best to define what guests want out of a charter. They know how to quickly tweak itineraries and deal with demanding requests. "You'd be hard-pressed to find a resort that has the ratio of staff to guests that a charter has," says Jeff Beneville, a broker at Camper & Nicholsons.
When guests charter the 183-ft. (56 m) sailing yacht Selene, for example, they are met by the captain, steward and seven other crew members, including the chef, Justin Arblaster. The world is his supermarket. Aged beef is flown in from England, truffles from Italy and foie gras from Strasbourg. "If the guests want Russian caviar, I can have it flown in to where we are by helicopter or seaplane," Arblaster says.
In the past decade, zillionaires have entered the mega-yacht race, one-upping one another in size and cost. Yachts longer than 150 ft. (45 m) go for $20 million to $50 million. Venture capitalist Tom Perkins has beaten them all with the Maltese Falcon. The 289-footer (88 m) cost more than $100 million and is one of the world's largest, fastest sailing yachts. At up to $700,000 a week, it is also one of the most expensive charters--and you're too late. It's booked until 2009.
With the interest in yachts rising, there is an offsetting demand developing for new marinas. Andrew Farkas, ceo of Island Global Yachting, is building super-luxe yacht ports in places like Dubai. "My new marinas will be the perfect places to park your yachts," Farkas says. They'll have restaurants, private-jet services and Bulgari stores (in case you need a new diamond bauble). Anything less is merely a dock.