Simply Abu Dhabi XXXV

How have the demands of superyacht owners and charter guests changed since you founded SuperYachtsMonaco 10 years ago? Those demands have changed dramatically, and that’s because the demographic of the client has changed a lot over time. Clients have become increasingly younger, not to mention richer earlier on, so the shifting demands are now in line with what younger people want. This translates to far more radical ideas in terms of design, and actual facilities and capabilities of yachts, so that’s a general trend. In terms of specific examples, both Serene and Faith have elaborate spas that feature snow rooms. With the younger demographic coming through, do you believe this is mainly young entrepreneurs who aremaking their money early or inherited income? I think it’s a bigger percentage of younger people who have made their money early, but there is an inheritance legacy part of the market, too. If you look at the raft of young tech billionaires alone, this is the sort of demographic I’m talking about. And the rise of explorer travel and remote cruising – that also applies to this younger demographic? Yes, that’s absolutely true. Everybody wants to do something different to that of their parents’ generation. People are moving towards far-flung locations and away from the standard milk run, such as St Tropez, Monaco, Cannes, Sardinia. They’re looking for something further than that typical yachting triangle. And, therefore the vessels have greater capability and greater autonomy, with longer ranges and advanced toys like helicopters on board; all the things that make remote destinations accessible. I think explorer travel is a mind-set thing, it’s not about the vessel itself. You can question whether a yacht is an explorer vessel or not, but what parameters are being used to define an explorer vessel? The definition is in the mind of its owner. It’s perfectly feasible to cruise the Northwest Passage in a 45mmotoryacht. Latitude, for example, has achieved that more than once, with no ice-breaking capability, no ice-class classification, no helicopter, and in fact no features that would mark her out to be an explorer yacht. However, Latitude has done some of the most amazing exploration of any yacht floating today. I think people can get constrained and confined by definitions, but actually it’s just how big your imagination is. Does this extend to winter season destinations too? I think people are getting a little tired with the Caribbean, especially those who have visited more than once. We are seeing more yachts that are visiting the likes of Indonesia and Asia during the winter season now, and the options are varied. From the Maldives and Seychelles, to even Madagascar, people really do look for that next thing. It’s reminiscent of the 90s backpacking culture, whereby people are looking for that mythic beach or ancient undiscovered tribe located up a river that their yacht can access. There is definitely a romantic feel about yachting at the moment, which I think is great, as it’s giving the industry a new impetus and energy. The main constraint for many yacht owners is family commitments. That can dictate how explorative and remote owners want to go, as can changing time zones and internet connectivity, particularly for owners looking to work while on board. But, in terms of onboard infrastructure available today, yacht owners are becoming increasingly savvy about employing crew that have more than one skill, which makes travelling further easier. Every single crew member on board Cloud Break has a second profession, not just a hobby, including a paramedic, concert guitarist, competition DJ, kite-surfing instructor, so the yacht itself is not limited. In terms of the charter industry, multiple digital platforms have emerged in recent years, some with affiliations with traditional brokerage houses.What is your opiniononhow these cater for charter guests? Chartering a yacht at hundreds of thousands (or even millions) of Euros per week is actually very far from “routine”. Yet, in the most simplistic of views, you might draw a parallel between the traditional travel agency structures and today’s yacht charter brokers. You might argue that if the vast majority of travel bookings can now be made online without an agent’s involvement, then by the same token so can yacht charter bookings. However, if you break it all down and look at what a bespoke yacht charter booking experience consists of – one in which you use a charter broker that is – it begins to seem obvious that a low margin digital platform could simply never compete. With that said, however, we would certainly be open to partnering with an online platform in the future. We’re not in a rush to do it, but I think there will be a lot of emerging players in that market, and it’s obviously the way forward. But there has to be a combination of the two – traditional brokerage and digital platform. You need some human element and experience, and you have to have the reach to digital players, so I think it’s a great marriage of the two. Environmental concerns and ocean conservation are at the forefront of people’s minds at present, have you seen an increase in requests fromowners or charter guests for yachts with hybrid propulsion or renewable energy? Yes, we have, it’s on the rise, it’s coming. The best comparison at present is the Toyota Prius; we’re at that sort of level within the yachting world. There is nothing that is Tesla-like yet, there is no yacht that runs completely on batteries in a truly efficient way that can accommodate guests as well. At present, batteries can be used to take the hotel load on the engine, and we can power the lights and music, but that’s pretty much it. However, we are receiving a lot more call for it from clients. And in general, the yachting industry certainly embraces its wider environmental responsibilities. There is less single-use plastic on board, there is waste management, and it’s across the spectrum, from aluminium straws to hybrid propulsion.