Two hugely experienced superyacht owners shared their tips for creating a successful charter programme in the second event in BOAT International's new Owner Series.
The live online event saw John Caudwell, owner of 73m Titania, and Matt Voorhees, owner of 56m Broadwater, discuss all aspects of the charter market, from refitting their yachts to make them better charter prospects, to the importance of a quality crew.
Caudwell, who bought his superyacht at auction in 2010, discussed how he seeks to make a profit each year from his charter programme, although that won't be happening this year due to coronavirus, he admitted.
Covid-19 has severely impacted both owners' charter programmes, with Voorhees' yacht late in coming out of its refit at Royal Huisman due to the pandemic. Both owners extended their yachts to add more charter-friendly features. In Caudwell's case, he lengthened Titania from 68 to 73 metres, and added a second owner's cabin, a beach club and an inflatable water park with one of the longest waterslides in the industry.
Voorhees' yacht, his third Feadship to date, has seen its LOA increased to 56 metres so a comprehensive beach club could be added. The American owner recently discussed his love of refitting classic Feadships in an At Home with BOAT interview.
Caudwell and Voorhees agreed that beyond its facilities, the secret to a successful charter yacht was its crew - and that keeping senior crew happy with benefits like rotation was key.
The pair also discussed the digital disruption of the charter market, and the importance of having the latest toys on board for guest enjoyment. You can watch the entire discussion above.
Next up: Contemplating a refit? Join our live discussion with yacht owners who have experience in refitting their yachts. Part 3 | Refit Thursday 16 July, 4pm UK | 5pm CET | 11am EDT