At West Nautical our charter management philosophy is to go beyond generating immediate income as the yacht’s central agency.
For owners, chartering out your yacht can be an efficient way of bolstering investment as well enhancing the resale value. We believe that a yacht in full operation during an active and busy season is a yacht where the crew functions as a highly motivated unit, all systems are fully operational and the daily operation is consistent. Consistency breeds predictability and predictability breeds success.
Our mandate and responsibility is to manage the charter booking process for the yacht, on behalf of the owner, to maximise net income and control operational costs through targeted marketing and properly negotiated charter contracts.
Charter marketing requires considerable knowledge and judgment to ensure that yachts are represented in a competitive manner, commercially effective and legally sound. West Nautical creates and manages a bespoke marketing campaign, designed to maximise the charter potential of each yacht, whilst respecting the personal requirements and instructions of the owner.
Through our charter management services, West Nautical shall
- Proactively advertise and market your yacht through a dedicated marketing business plan, coordinating all marketing materials with you or your team of advisers;
- Manage the yacht’s charter calendar and bookings;
- Participate in charter boat shows;
- Handle all fiduciary responsibilities as per MYBA contracts, including financials and advance provisioning allowance (APA) funds;
- Produce regular income statements and end-of-season financial report;
- Maximise charter revenues.
Boat Shows & Yachting Events
West Nautical always has an active presence at major international yachting events. Providing an opportunity to meet those in the market, foster our long standing relationships, and showcase our client’s yachts to their target market.
For charter yachts, it is impotant to display the yacht and showcase the crew to retail charter brokers by participating in charter shows such as the MYBA show in Barcelona, and the Antigua charter show. This enables to Captain and crew to show the yacht at its best, for the chef to impress with their culinary skills, and the stewardesses to delivery superb service, all of which is vital for brokers to present the yacht as an option to their clients.
Pop-up shows and one day events are also crucial for raising awareness to the yachts’ availability on the market, with events such as the Montenegro Charter Show and ECPY Sales and Charter shows in Nice.
A professionally designed brochure remains an excellent way to visually showcase your yacht. Our in-house team has the knowledge and experience to distil your yacht and its specification in print, as well as developing electronic digital brochures for presentation to brokers and clients alike.
The role of the charter manager
Each yacht will be assigned a Charter Manager who will work with the Owner’s Representative and Captain to promote the yacht to charter brokers and clients worldwide. The Charter Manager will perform the following operational and administrative activities:
- Propose the marketing plan in consultation with the Owner;
- Visit the yacht to ensure a comprehensive and current picture of the yacht, her facilities and crew;
- Liaise with the Captain and Head of Departments on a regular basis to discuss changes in crew or additions/upgrades to the vessel;
- Respond to all charter requests and process charter enquiries in a timely manner, follow up with brokers & clients regarding past enquiries;
- Estimate fees for relocation of the yacht,supply sample itineraries and provide any information to help retail charter brokers close a deal;
- Prepare MYBA charter contracts and manage escrow accounts where West Nautical will act as the ‘stakeholder’;
- Handle the numerous details from the beginning of a booked charter making sure the Captain can perform the charter seamlessly;
- Discuss marketing opportunities, how to manage the media and press interest in the yacht and ensure only approved responses are distributed;
- Arrange for the yacht to be displayed and shown at various yacht shows, pop-up events and charter marketing forums.