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Renting a yacht in the Mediterranean this summer just got cheaper
CNBC • • business
Key Points:
- Yacht charters in the Mediterranean this summer are down 20% to 30% compared to last year, leading companies to offer discounts and special deals to attract clients.
- The decline in bookings is attributed to geopolitical tensions, particularly the outbreak of the Iran war, which caused a slowdown after a strong start to the year.
- Many charter clients, especially Americans, are making last-minute bookings in hopes of securing lower prices, deviating from the usual practice of reserving months in advance.
- Despite the overall softness, demand remains strong for the largest yachts over 70 meters, and bookings for September are already higher than last year as clients anticipate a potential resolution to the Middle East conflict.
- Yacht brokers report increased availability and mid-summer discounts, with some vessels offering significant price reductions for late July and August charters.
