The Tribune

By NEIL HARTNELL

Tribune Business Editor

nhartnell@tribunemedia.net

A SENIOR marina executive says he expects The Bahamas’ yacht charter business “to grow five-fold within the next five years” based on rapidly-increasing interest in the destination.

Joseph Dargavage, the Association of The Bahamas’ Marinas (ABM) vice-president, and partner at Romora Bay Resort & Marina, said this nation’s actions in ultimately containing COVID-19 and re-opening its borders ahead of many rival destinations had resulted in its inclusion on yacht brokers’ charter schedules.

“As a result of this, The Bahamas’ destination has now been added to many new brokers’ schedules, and we have seen an increase in inquiries and charter yacht bookings to the destination like never before,” Mr Dargavage said. “We are only beginning to scratch the surface of the potential revenue that yacht chartering can provide to us. In fact, The Bahamas is still in its infancy stage in this charter arena, and based on the feedback and interest shown in The Bahamas destination, I expect yacht charter business in The Bahamas to grow five-fold within the next five years.”

Mr Dargavage spoke as a two-day Bahamas Charter Yacht Show, which he chaired, opened on February 25 at the Rybovich Superyacht Marina in West Palm Beach, Florida. Dionisio D’Aguilar, minister of tourism and aviation, was among those in attendance.

The two-day charter broker-only show was organised by the Association of Bahamas Marinas in partnership with the Ministry of Tourism and the International Yacht Brokers Association (IYBA). Participating in the show were 80 of the top charter brokers who book charters to The Bahamas, along with yachts ranging in size from 78 to 213 feet.

Exhibitors included the ABM; Staniel Cay Yacht Club; Romora Bay Resort & Marina; Valentine’s Resort & Marina; Bay Street Marina; Hurricane Hole Marina; Nassau Yacht Haven; Abaco Beach Resort; Tropic Ocean Air; United Island and Yacht-United Shipping; and Makers Air.

Originally scheduled to take place in Nassau in February 2021, the show was moved to the Rybovich Superyacht facility to accommodate international brokers amid the current COVID-19 restrictions imposed by the Government.

Mr D’Aguilar held one-on-one meetings with the brokers, thanking them for their continued support of The Bahamas. He promoted The Bahamas’ new digital Click2Clear cruising permit platforms, safety travel protocols, new marina products and destination experiences available to them and their guests.

The minister said that “prior to the COVID-19 pandemic, tourism to The Bahamas was performing remarkably well and was poised for record-breaking performances. The impact of the pandemic, however, was felt by us all.

“Despite a slower rebound, especially with our hotels and airline operators, we are indeed grateful to our neighbours in the north who continue to visit us by private aircrafts, boats and charter yachts, which have benefited our Family Islands greatly,” Mr D’Aguilar added.

“As COVID cases here in the US decline daily, and as more and more businesses begin to re-open and persons prepare to travel again, we want to remind you and your guests that The Bahamas, blessed with great beauty, diversity and geography - located 50 miles from the US, the world’s greatest economy and three of the largest cruise ship ports, is open for business. Our entry protocols are quick and easy, and we are ready to share our hospitality with you.”

Peter Maury, the ABM president and owner of Bay Street Marina, said: “We simply could not let the opportunity to hold this event at Rybovich Marina pass us, especially when the international charter brokers were already here in Florida. Ninety percent of the charter yacht business that comes to The Bahamas is booked through these brokers.”

“Covid-19 has changed the rules of engagement for doing charter business. The Bahamas government must be commended for its swift actions to curtail COVID cases, install digitised cruise and charter platforms and re-open its borders and economy, quickly and safely, especially as other destinations remain closed for business,” said Mr Dargavage.

“We also plan to conduct a series of small Bahamas charter show events in Florida throughout the year to further promote The Bahamas, its ease of getting there, safety protocols and culture. Plans are also underway to hold the 2022 Bahamas Charter Yacht Show in Nassau, comprising three days in Nassau with post trips to the Out Islands.”