The Euro crisis has affected every part of the European economy, even in the rarified market of mega-yacht rentals in the Mediterranean.
A glut of yachts for rent, coupled with the slowing global economy and the Euro crisis, is creating unprecedented bargains in the charter yacht business this summer. Yacht brokers say there are roughly 750 boats over 100-feet long docked on the shores of the Med this summer waiting for customers – twice the number of previous years. And there simply aren’t enough rich customers to fill them.
With prices ranging from $200,000 to more than $1 million a week – not including food, fuel and beverages – demand for these vessels is restricted to the super-rich. But there’s no harm in looking.
Click ahead to see what kind of yacht is for rent at a discount this summer.
Lady Christina, a 204-foot super-yacht, has a roomy, art-deco interior with a sea-level gym that opens onto the swimming platform. Its master suite stretches the entire length of the upper deck and includes a dining area and private terrace. People who book 14 days or more on the yacht get 20 percent off the weekly charter price of $435,000 – a savings of $174,000 for the two weeks.
The 164-foot Mariu was built for fashion king Giorgio Armani, and his design touches are evident throughout the boat. The sleek minimalism of its interiors boasts plenty of leather, rich woods and bleached oak paneling, while outdoor sun deck can be shaded for a blissful afternoon nap. The boat is now offering a charter rate of $201,000 a week, instead of the usual $233,000. It’s also available for last-minute charters.
Bad Girl, a 186-foot cruiser, has a double master cabin with dressing room, double office and his-and-hers en suite bathrooms. The vessel also has a gym, sauna, a Jacuzzi and comes equipped with two Kawasaki jet skis. It charters for $250,000 a week but 10 percent discounts are being offered.
A view of the entertaining deck of the 186-foot Bad Girl. The dining table can be set for 12, matching the number of people the boat can sleep, but the cocktail area is ample enough for larger parties while in port.
Icon, a 205-foot yacht built in the Netherlands, The yacht sleeps 12 passengers and includes amenities such as an on-board gym and Jacuzzi. Its weekly rate, including a crew of 16, is $475,000, but discounts of up to $50,000 a week are now possible.
A look inside the 205-foot Icon demonstrates the luxury that one can expect to get for around $500,000 per week. The ultra-modern interior is furnished with plush sofas and dark wood finishes, and includes on-board library of 150 DVDs.
This retro 295-footer has a classic interior with wood paneling and sweeping sun decks. Clients can get $50,000 off the $530,000 weekly rent with certain terms.
At 197 feet in length, Slipstream has room for a cavernous master suite decorated with red and black walls. The rest of the post-deco interior is equally dramatic. Customers can get $43,000 knocked off the $432,000-a-week list price this summer.
A view from the deck of the French-built Slipstream. The yacht has a crew of 15 and aside from luxurious living spaces, the boat is fitted out with Jet-Skis and other necessities for a Mediterranean vacation.
In what may be the deal of the summer, Pure One is offering a third off of its charter rate of $227,000 a week. The 152-foot boat can race to 30 knots and has a jaw-dropping flybridge with double sunbeds, twin dining banquettes and sofas. In port, you can splash all day in the vessel's glass-edged pool, and spend evenings hanging out in the media room.
This 191-foot yacht treats its 12 guests to an outdoor gym, Jacuzzi, and a separate guest study on the lower deck.
Inside the Unbridled is a comfortably furnished interior that, aside from the water views in every direction, might be taken for a high-end hotel.