Charter firm adopts fractional ownership program
CLEARWATER, Fla. – Yacht charter firm The Moorings has introduced a yacht fractional ownership program, the company reported in a recent statement.
The program works by dividing the yacht into 10 units of 10 percent and offering owners the opportunity to purchase one or multiple units in the program. Each unit gives the owner four weeks of cruising time aboard the yacht every year, complete with a crew that includes a professional captain and gourmet chef, hand picked by The Moorings.
The unique aspect of the program is that The Moorings can charter the owner’s time on their behalf if the owner is not using it, earning the owner revenues. In fact, the revenues earned from just two weeks of chartering are enough to cover the annual operating costs of the yacht and have some cash left over, according to the company.
“This program is not only ideal for yacht owners looking to move up to a larger yacht without additional expense,” said Franck Bauguil, vice president of Yacht Sales, “but also for people who simply want to enjoy their own piece of paradise and share it with friends and family, while having someone else manage the details for them. And for corporations, it’s a unique employee incentive.”
The first yacht in the program is the Squadron 74 by Fairline, a new motor yacht which features 4 double guest cabins each with LCD television, home theater system, fly bridge bar, satellite phone, RIB, crew quarters aft and a host of water toys. The yacht was delivered to Tortola in the British Virgin Islands in December. Owners will have the option to relocate the yacht to destinations of their choice throughout the program.
For a limited time, The Moorings is offering buyers an additional week of owner use this spring or summer prior to the yacht’s closing, if they place a deposit on the yacht by May 30. More information about the program is available at www.mooringsfractional.com.
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