Yacht Charter Procurement Intelligence
The global yacht charter category is anticipated to grow at a CAGR of 5.6% from 2023 to 2030.
Growth of the category can be attributed to rising demand for recreational and competitive boating and sailing activities, growth in the number of High-Net-Worth Individuals (HNWI), increase in disposable income, growth of marine tourism, surge in expenditure on luxury vacations, and boost in demand from the corporate sector. For instance, corporate yacht charters are becoming increasingly popular among executives and companies for closing business deals or organizing important meetings in distinct locations and settings that are away from office distractions. Key factors restraining the category include elevated seasonal pricing, high taxation in certain regions, cautious consumer outlook due to geopolitical and macroeconomic uncertainty, and environmental apprehensions related to yachting activities. For instance, French Tax Authorities declared a bulletin involving changes to Value Added Tax (VAT) levied on yacht chartering activity, applicable to contracts signed after the 1st of November 2020.
Order your copy of the Yacht Charter category procurement intelligence report 2023-2030, published by Grand View Research, to get more details regarding day one, quick wins, portfolio analysis, key negotiation strategies of key suppliers, and low-cost/best-cost sourcing analysis
Yacht Charter Procurement Intelligence Report Scope
The Yacht Charter category is expected to have pricing growth outlook of 5% – 10% increase (Annually) from 2023 to 2030, with below pricing models.
- Fixed Fee-for-Service pricing
- Variable pricing
- Hybrid pricing
- Periodic pricing
Supplier Selection Scope of Report
- Cost and pricing
- Past engagements
- Productivity
- Geographical presence
Supplier selection criteria of Report
- Geographic service provision
- years in service
- industries served
- revenue generated
- employee strength
- certifications
- charter type
- yacht size
- yacht type
- charter duration
- others
Yacht Charter Procurement Intelligence Report Coverage
Grand View Research will cover the following aspects in the report:
- Market Intelligence along with emerging technology and regulatory landscape
- Market estimates and forecasts from 2022 to 2030
- Growth opportunities, trends, and driver analysis
- Supply chain analysis, supplier analysis with supplier ranking and positioning matrix, supplier’s recent developments
- Porter’s 5 forces
- Pricing and cost analysis, price trends, commodity price forecasting, cost structures, pricing model analysis, supply and demand analysis
- Engagement and operating models, KPI, and SLA elements
- LCC/BCC analysis and negotiation strategies
- Peer benchmarking and product analysis
- Market report in PDF, Excel, and PPT and online dashboard versions
Yacht Charter Procurement Cost and Supplier Intelligence
Yacht acquisition costs, cost of crew members and staff, costs of provisioning food and beverages, fuel and dockage costs, maintenance and repair costs, and other costs such as insurance, sales and marketing, taxes, compliance, and contractual costs are the key components of this category. Yachts operated by a charter fleet or a charter service provider are usually privately owned. The service provider is responsible for advertising, listing, booking, and conducting interactions with end-users. Yacht hiring costs and costs of crew members and staff account for the largest share of the cost structure. A prominent pricing structure used in this category is fixed fee-for-service pricing which ensures that a service provider will receive the approved sum of money agreed in the contract and have a predetermined pricing for the services indicated. Alternatively, a variable pricing structure may be used based on the time duration, scope of services, and materials/resources utilized in providing the service.
Additionally, a hybrid pricing model may also be used which comprises of a fixed fee (also known as base charter fee) and a variable fee which changes according to seasonality, charter agreements, and provisioning costs. The common types of charters based on contract type are bareboat, skippered, and crewed charters. For instance, a bareboat charter does not include a skipper and crew but offers solitude and freedom for end-users. A skippered charter includes a captain but excludes the crew and is suitable for end-users with no experience in sailing. On the other hand, a crewed charter includes a captain to navigate the yacht as well as a crew to prepare meals and beverages, which is appropriate for end-users having needs such as comfort, relaxation, and luxury.
List of Key Suppliers
- BENETEAU SA
- Burgess Yachts LLC
- Camper & Nicholsons International Limited
- Dream Yacht Worldwide
- Fraser Yachts Florida, Inc.
- Mariner International Travel, Inc.
- Northrop & Johnson Holding LLC
- Ocean Independence AG
- OceanBLUE Yachts Limited
- Simpson Marine Limited
- Sunseeker International Limited
- YACHTICO.com
Add-on Services provided by Grand View Research Pipeline:
- Should Cost Analysis
Component wise cost break down for better negotiation for the client, highlights the key cost drivers in the market with future price fluctuation for different materials (e.g.: steel, aluminum, etc.) used in the production process
- Rate Benchmarking
Offering cost transparency for different products / services procured by the client. A typical report involves 2-3 case scenarios helping clients to select the best suited engagement with the supplier
- Salary Benchmarking
Determining and forecasting salaries for specific skill set labor to make decision on outsourcing vs in-house.
- Supplier Newsletter
A typical newsletter study by capturing latest information for specific suppliers related to: M&As, technological innovations, expansion, litigations, bankruptcy etc.
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Brief about Pipeline by Grand View Research:
A smart and effective supply chain is essential for growth in any organization. Pipeline division at Grand View Research provides detailed insights on every aspect of supply chain, which helps in efficient procurement decisions.
Our services include (not limited to):
- Market Intelligence involving – market size and forecast, growth factors, and driving trends
- Price and Cost Intelligence – pricing models adopted for the category, total cost of ownerships
- Supplier Intelligence – rich insight on supplier landscape, and identifies suppliers who are dominating, emerging, lounging, and specializing
- Sourcing / Procurement Intelligence – best practices followed in the industry, identifying standard KPIs and SLAs, peer analysis, negotiation strategies to be utilized with the suppliers, and best suited countries for sourcing to minimize supply chain disruptions
