Mediterranean Yacht Charters See 20% to 30% Drop as Brokers Offer Discounts

According to CNBC, yacht companies are offering discounts and special deals on Mediterranean charters this summer as geopolitical conflicts have cooled demand, with bookings down 20% to 30% from last year, brokers said. Jonathan Beckett, CEO of superyacht brokerage Burgess, said American bookings started the year strongly but slowed after the outbreak of the Iran war, and he estimated the summer charter season in the Mediterranean may be down 30%. Anders Kurtén, CEO of Fraser Yachts, said some clients are booking large yachts just days before departure, while Kevin Merrigan of Northrop & Johnson said some last-minute customers are finding the boats already chartered. Brokers also said the 130-foot Club M offered a special rate of 210,000 euros ($239,000) for the third week of July, down from its usual 250,000 euros, and that bookings for September are already ahead of last year.