Yacht Management Considerations
There are typically two directions one may take in luxury yacht management. The first is to manage contracting, payment, and inspection of the services one’s self as the yacht owner. The second school of thought would push these activities off to an agency and simply enjoy the use of the yacht. Before making the decision it is worth discussing all of the various components of yacht management that you would need.
Berthing The Yacht
Your typical one hundred foot play luxury yacht requires a dedicated berth where it can be fueled, maintained, and any repairs done in a routine way. Yacht management best practices would dictate that the yacht typically be berthed within a certain distance of the person managing the yacht. It is not good to be the yacht management agent if you are hundreds of miles away from shipyards where the repairs are to be done. If you are managing the provision of the berthing and maintenance of the yacht yourself you should consider living in the same port as your yacht.
Supplies, Fuel Logistics and Staffing
Perhaps the hardest thing to get your hands around is the sheer magnitude and breadth of the logistics that you must consider in successful yacht management. For instance let us consider that your yacht is birthed in New England, say Maine and your decide you would like to cruise to Nassau in the Bahamas. Most yachts use fuel at an incredible rate, perhaps thousands of gallons a week. Your yacht management practice must include sourcing fuel at your destination and perhaps in between depending on the size of your fuel tank. While you are considering this you should also make sure that you have arranged for payment of the fuel. Of course if you are the owner of the luxury yacht then actual payment is not really an issue, however, the logistics of the payment will need to be dealt with before leaving. This is another facet of yacht management. Most folk do not carry that much cash with them and the amount may need an American Express card with an impeccable history.
Maintaining stores and supplies are also part of yacht management. Most ocean going yachts of over a hundred feet or more will need a crew of twenty or thirty simply to run the yacht. These people are cooks, skippers, engineers, stewards and cleaning staff, perhaps even a pool caretaker if you have a pool on board. All of these folk will need to be fed and taken care of as you cruise to the Bahamas.
So as you decide whether to outsource yacht management of your luxury vessel or do it yourself there is one final consideration. Management of the staff for such a vessel is a major job, indeed perhaps even a full time job. If your objective is to provide a luxury floating hotel that is at your own beck and call then you should outsource the yacht management functions.