The private yacht charter market was valued at US$18.9 billion in 2021 and is projected to reach 26.5 billion by 2027. This increasing demand is driven by a new, wealthy, younger audience seeking more exclusive, experiential experiences at sea.
Dedicated yacht charter brokerages, like Kensington Yachts, cater to this growing demand by crafting highly tailored private yacht charter experiences beyond traditional cruising routes, helping guests experience something new.
We spoke with Edita Sgovio – Vice President at Kensington Yachts to learn more about the charter trends that are driving this vibrant yachting sector.
Private yacht charter trends shaping the industry
Tell me a bit about Kensington Yachts and what you are doing differently?
“Kensington Yachts is a boutique yacht brokerage with access to the best charter vessels on the market and a team of destination experts. We curate detailed itineraries that pair the private yacht charter with experiences on water and land, enabling clients to truly make the most of their charter experience.
“Our team meticulously plans every element, including private guided experiences, luxury accommodations pre- and post-charter, and travel arrangements, including private jets. We also provide a dedicated 24/7 concierge service for a seamless, stress-free experience.
“Everything is bundled into one seamless itinerary for the ultimate client experience. In short, we are yacht brokers and destination experts, enabling our clients to get the best of both worlds. “
What private yacht charter itinerary trends are you spotting?
“The Mediterranean continues to remain extremely popular, driven by the vast number of experiences the region offers, from cultural to gastronomic.
“However, we also are seeing an increasing number of clients looking for unique exotic destinations such as the Maldives, French Polynesia, and Indonesia. Clients typically like a combination of relaxing and exploring the destination, getting to know its cultural and culinary aspects along with its people and history.”
How do you work with a client when putting together an itinerary?
“We first engage with the client over the phone, by video link, or by email—whatever works best for the client. This allows us to get to know them and their desires for the trip. Our team takes the time to get to know the client and their interests; for example, do they like historical sites, culinary arts, culture, etc? We drill down into what kind of trip they desire and whether they have chartered a yacht before or if this is a new experience. If they have chartered before, we try to find out what they liked and didn’t like on their last experience to help guide us further.
“We then work closely with the client to create a custom itinerary and assemble a yacht selection based on the information they provided in the qualifying stage. We often make numerous changes, interacting with the client at each stage until we get the perfect itinerary they love and find the ideal vessel that matches their style and budget.
“Our team then gets to work for the client, negotiating the yacht charter with the yacht’s representative and compiling a robust contract.
“Once the yacht is secured, we work on fine-tuning all the details of the itinerary, right down to the micro-ones, leaving nothing to chance.
“About a month before the private yacht charter, we connect with the client and work with them on their preference sheets; this includes detailing what they like to eat for breakfast, lunch, and dinner, their favourite cocktails, wines, and snacks. We also finalise all their activities. Our operations team works in the background to put all the pieces together and ensure a seamless trip.
“Clients receive their final documents via mail and email, and we stay in touch with the client and our ground team/captain throughout the trip to ensure everything is running seamlessly and as planned.
“When clients return, we connect again to see how everything went and start working on their next adventure!”
What types of yachts are in particular demand right now?
“Motor yachts remain the most popular type of private yacht rental; they offer the most options in terms of sizes, styles, crew, etc. and tend to be the go-to option for most charterers. However, we also have some clients specifically interested in sailing yachts.”
What changes are you seeing in the charter market?
“People are looking for experiences. They want to maximise their time on vacation in terms of fulfilment and experiences. They want more than just the yacht. They want to get to know the destination and its people and culture. This is where we step in and create a yachting experience instead of just a yacht rental.”
How do you make the impossible possible?
“We have global connections and ground teams in various destinations with special access to certain sites and attractions. We work around the clock to make the impossible possible for a client. With our sister company, Kensington Tours, we have established a well-grounded and vast network globally over the past 16 years, which we leverage from the yacht brokerage side.”
If you want to enjoy an incredible private yacht charter vacation, contact the team at Kensington Yachts.
