Charter
Some yachts are used exclusively by their private owners, others are operated all year round as charter businesses, and a large number are privately owned but available for charter part time. The weekly charter rate of luxury yachts around the world ranges from tens of thousands to hundreds of thousands of dollars/euros. Expenses of approximately 25-30%, such as food, fuel, and berthage are charged as an extra as well as a customary 15-20% crew gratuity for good service. The luxury yacht charter industry functions effectively because private yacht owners mitigate their running costs with charter income as well as keeping their yachts and crew in top running order. Conversely, private charterers charter yachts (rather than owning them) because it is generally considered to be less expensive, and less hassle, than owning a yacht and it also provides them with extra choice related to yacht type, location and crew.
Read more about this topic: Luxury Yacht
Famous quotes containing the word charter:
“Farewell! thou art too dear for my possessing,
And like enough thou know’st thy estimate:
The charter of thy worth gives thee releasing;
My bonds in thee are all determinate.”
—William Shakespeare (1564–1616)
“When Britain first, at Heaven’s command,
Arose from out the azure main,
This was the charter of her land,
And guardian angels sung the strain:
Rule, Britannia! Britannia rules the waves!
Britons never shall be slaves.”
—James Thomson (1700–1748)
“The recent attempt to secure a charter from the State of North Dakota for a lottery company, the pending effort to obtain from the State of Louisiana a renewal of the charter of the Louisiana State Lottery, and the establishment of one or more lottery companies at Mexican towns near our border, have served the good purpose of calling public attention to an evil of vast proportions.”
—Benjamin Harrison (1833–1901)