Thinking about renting a yacht but the idea of all the possible «hidden costs» may scare you off? We’re here to answer all the questions and guide you through the booking process by talking about all the costs to bear in mind so you can have a yacht charter vacation of your dream and know what you’ll pay for and what’s included in the charter.
BONUS: several insights on how to save on renting a yacht and have a dream vacation come true!
How much does it cost to hire a crewed yacht?
Getting ready to book a yacht and plan your ultimate yacht charter experience can be a challenge, especially if it is your first time to have such a holiday. And even for an experienced charterer, it is time and energy-consuming to do research, make all those choices, calculations, organization.
Here at Contact Yachts, we’re happy to take care of all the processes and minimize the time and energy you spend on the activities that a professional yacht charter broker can assist with. Estimating costs is one of them.
After reading our detailed yacht charter cost guide you will know all about yacht hire pricing and have answers to the following questions:
What is a yacht charter fee and what does it depend on?
The average cost to rent a yacht may range anywhere from 5,000 Euro per week for a gulet, a sailing yacht, or a catamaran and up to 4,000,000 Euro per week for the mega yachts that are completed with elevators, pools, beach clubs, spa saloons, cinemas, helipads and even submarines.
Yacht charter prices are quoted by the week. And the cost doesn’t change whether there will be only you on a yacht or the full capacity of the yacht (6, 8, 12 guests). The exception can be observed in the Caribbean where some catamarans are priced depending on the number of guests chartering a yacht.
Example: catamaran Zingara in the Caribbean is 42,800 USD per week for 2-6 people onboard, and it is 49,100 USD per week for 10 people onboard.
A yacht charter fee is a rate you pay to hire a yacht with all equipment working in order and the crew service (navigation, cleaning, cooking, serving food and drinks by the crew) during the cruise. The rate is set by the yacht’s owner.
It also depends on various factors, such as:
A charter fee may include some services, food, drinks, taxes or may include only the hire of a yacht with a crew, and that’s it.
The most significant factors that affect a yacht charter fee
It costs less to charter a yacht in the low season months, whereas a yacht charter in high season (the most popular months to have a yacht vacation) will be much more expensive. For example, a high season period in the Caribbean is the holiday season including Christmas and the New Year. In Europe, high season months refer to July and August.
The yacht’s type (catamaran, motor yacht, sailing yacht, gulet),her size, manufacturer’s brand, age of a vessel, its reputation, range of water toys available onboard, types of engines, and other yacht type-related factors play an important role and affect the pricing of a yacht charter. It is generally more expensive to hire a motor yacht than a sailing yacht or a gulet as it costs more to build one than the other two types. So the more expensive it is to build a yacht, the higher her charter price will be.
Prices to hire a yacht may be quite high in the cruising grounds where the fleet is very small, like Galapagos, for examples. In the meantime, in Turkey, where the largest gulet fleet can be discovered, rates to charter a classic wooden yacht are more competitive. Some countries require a local tax (VAT) to be paid on top of the charter rate, some - don’t. For example, in Greece, you will pay 12% VAT and in Montenegro - none, in Turkey the VAT is 18%.
What is included in the base charter fee and what is excluded in the yacht hire rate?
In reality, there’s no universal answer to this question. Additional expenses applicable on top of the charter fee and the «includes» are the subjects to the terms and conditions of the charter contract for a specific boat in the specific yacht destination.
In the yacht charter industry, there are several types of contracts and yacht charter types that you should be aware of, and they will outline for you all the essential information about costs.
Crewed yacht charters can be «All-inclusive» and «Plus expenses charters».
An all-inclusive yacht charter can be seen mainly in the Caribbean. The rate for such cruises is based on the number of guests, and it includes food (three meals per day) and drinks (soft drinks, beer, wine) during the charter, usage of water sports and the fuel needed for navigation (approximately 4 hours per day),harbour fees. Some taxes and dockage can be charged extra. The contract for such charter is known as Caribbean Terms Inclusive (CTI). However, this is most common for catamarans chartered in the Caribbean. Motor yachts mostly operate on the terms where every expense is extra. This is explained in the next paragraph.
A plus expense charter is the most common type of yacht cruise. It means that the base charter fee doesn’t include any expense and it is paid additionally by the charterer. Such expenses refer to food, drinks, fuel needed for the navigation, running the generators and water sports equipment, as well as fuel for dinghy or tender, any local taxes, private marina fees, land excursions, transfers, rendezvous diving, etc. Such expenses are paid by APA (Advance Provisioning Allowance). Usually, it is 25-30% of the base charter fee depending of course on the preferences of the charterers. It means if you'd like to dine with caviar every second day and consume exclusive and rare wines, the APA could be a bit higher than it usually is. APA amount is paid before the charter via bank transfer or by cash.
The «plus all expenses» contract is also known as MYBA contract (formerly known as Mediterranean Yacht Brokers Association, and now Worldwide Yachting Association). Contact Yachts is a proud member of this prestigious yachting association. MYBA contract is indeed the most commonly used contract when it comes to yacht charter anywhere in the world.
What is APA?
APA is allocated to the yacht ahead of the charter for the purpose of provisioning the yacht with the exact items required for the preparation of your meals and snacks during your charter, as well as fuel for the yacht. Should the 30% APA exceed the amount required to provision the yacht prior to the charter, and procure any additional items during the course of the charter, the excess amount is always refunded to the charterer at the end of their cruise. Of course, the opposite may also apply, where an additional amount of APA is requested so as to cover expenses. You can control charter expenses by simply staying in touch with the captain and your booking agent.
A detailed list of the various costs involved in chartering a yacht that are or not included in the charter rate
Keep in mind you are not obliged to visit private marinas, and the usage of the satellite phone is only based on your need. So when you look at the break down of costs mentioned above, you can choose what to experience and what not to in order to minimize the costs. So you see as a charterer you can easily keep a track of the expenses.
Gulet pricing terms
Gulets’ usual pricing structure is as follows. The charter fee includes hire of the yacht, crew service, fuel for 4 hours of cruising per day, sometimes VAT, and fuel for the generators, onboard entertainment equipment, yacht’s laundry. Everything else is extra, as well as fuel to run water toys equipment and the dinghy. As for the food, you’re welcome to order anything you’d like before the charter and pay for the purchase of the goods, and the chef will use them to prepare meals, or there can be Full Board and Half Board options. Full board includes breakfast, lunch, dinner, and can be priced 65-85 Euro per person per day. Half board includes breakfast and a lunch or dinner (one of the two meals) and is usually priced at 50-65 Euro per person per day.
Can a yacht charter vacation be cheaper than staying in the hotel?
Sure, it can, unless of course you charter a mega yacht for up to 200,000 Euro per week and higher.
Let’s take a look at the Greek gulet HERA. Her high season rate is 14,000 Euro per week, and she can accommodate 25 guests onboard. If you are planning a corporate gathering or some special yoga charter, etc, and can bring such a group to a yacht, the cost is very low per person. We should also mention that the Half Board is included in the charter rate. So 14,000 Euro / 25 guests = 560 Euro per person per week. And it is only 80 Euro per person per day for accommodation on a yacht and 2 meals per day. Greek VAT of 12% is also included in the charter rate.
How can you get all the information about a specific yacht?
If you like a specific yacht listed on our website or you’re seeking information for the one that’s not here, contact us to get a comprehensive breakdown of her charter rates and fees.
A yacht vacation is more affordable than one may think
Now you know that vacating on a yacht for sure isn’t reserved only for the richest among us - owning a superyacht yes, but not spending a beautiful holiday onboard a charter yacht. And what’s important - you have an answer to a popular question «How much can it cost you to charter a yacht for a week or so?». At Contact Yachts, we hope this detailed guide on costs, includes and excludes is useful for you.
Transparency of the costs is essential
Our aim is for you to feel comfortable when it comes to yacht charter prices. We believe that the booking process and prices for a holiday on a yacht must be as transparent as possible. Knowing break down of the costs in advance can help to relax your mind and not thinking much about calculations and fear of unexpected things to arise.
From one side all mentioned above looks complicated, but in reality, it’s not.
How to make a yacht charter booking process easier?
Your priority is to choose a destination where you want to hire a yacht, decide which type of yacht to charter and when. The broker then sends you a list of available yachts in the specific area according to your budget and preferences, and of course, he or she mentions to your what booking terms and costs are applicable for the yachts you liked the most. So the yacht charter agent shares all the information needed for you instead of you going and doing this long research.
We are here for you
At Contact Yachts, we know it takes time to book a perfect yacht, but it’s totally worth it. Once you reach your charter yacht, you’ll feel as carefree as never before. Think of all the beautiful coastal towns and islands you’ll visit without a need for packing and unpacking. Think of all the delicious meals your personal chef will cook for you and the stewardess will set up the table, and you don’t need to do anything for that. Think of the sea that’s just one meter away from you and you can jump into refreshing turquoise water whenever you wish. Think of the silence, privacy, and intimacy of this holiday that can’t be compared to any on land experience.
How to save money on a yacht charter?
Keep in mind that it’s always possible to lower your expenses for hiring a yacht. Our experienced charter brokers will help you to avoid any additional expenses if there’s no real need in them (like avoding visiting private marinas or hiring special water toys onboard, choosing a destination without VAT, etc). At the end of the day the job of a yacht broker to protect the interests of a client and find the best possible way for the charterer to hire a yacht and have an amazing vacation.
Please, browse through our destination guides and navigate the yachts listed in your chosen destination. You can contact us today for a specific question whether it is a yacht charter inquiry or you need assistance with planning a yachting itinerary. Contact Yachts specializes in fully crewed luxury yacht charters in any part of the world. Our company has been planning and organizing yacht vacations since 1995.
Contact one of our team members for expert help
Telephone: +61 2 8003 4655 (Australia); +90 252 413 63 13 (Turkey); +38 095 4444 261 (Ukraine).
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+90 532 446 65 92 (Turkish & English)
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