Synchrony Luxury Yacht Partnership launches as a smart solution to mega yacht ownership
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Synchrony Luxury Yacht Partnership launches as a smart solution to mega yacht ownership
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Category: Worldwide - Industry economy
- New brands / Affiliations
This is a press release selected by our editorial committee and published online for free on 2009-01-21
Synchrony, The Luxury Yacht Partnership, announces its launch, offering a luxury yacht ownership program with year-round access to premium yachts positioned in North America, Europe and the Caribbean.
Similar to the shared ownership programs that have been embraced in the high-end real estate and aviation industries, Synchrony is now raising the bar in the world of luxury yachting. Each state-of-the-art yacht is designed specifically for syndicated ownership and fleet access. The goal is to bring a consistently high standard of hospitality culture to the luxury yacht experience and deliver an extraordinary level of service and attention to detail.
Synchrony differs from other fractional yacht offerings in the market with its unique “luxury yacht lifestyle concept”. The program offers all the benefits of full ownership at a fraction of the cost and with fewer responsibilities. As an owner with Synchrony, users acquire a dedicated interest in a specific luxury yacht and have access to the entire Synchrony fleet of premium yachts – fully crewed and maintained. The company efficiently manages, maintains, crews and operates the yachts, freeing Synchrony owners from the typical burdens associated with a fully owned private yacht. Concierge and service teams are always on hand to plan all elements of the yachting experience, including cruising schedules, trip logistics and culinary experiences.
“Our concept is completely unprecedented in the world of yacht ownership,” says Bob Saxon, Synchrony Advisor and noted industry pioneer. “By offering the industry’s lowest owner-to-yacht ratio, the highest caliber vessels, unparalleled service and a combination of advanced bookings and flexible short-term access, discerning yacht owners now have a smarter option to access the luxury yacht lifestyle.”
Owners have access to the yachts for up to six weeks per year. Synchrony provides the same access as fully owned private vessels, including the freedom to book advanced vacations or spontaneous trips or events. Owners may use the yacht individually or with friends, for business entertaining, or even to charter out to others. Plus, there’s the liberty of setting unique agendas and exploring new ports of call around the world at a fraction of the cost.
Synchrony has selected the Azimut-Benetti Group, one of the largest luxury yacht builders worldwide, to design and configure the Benetti Classic 120’ yacht specifically for the program. This impressive vessel offers generous accommodations for 10-12 guests in five staterooms, two salons, indoor and outdoor dining areas and a sundeck with built-in Jacuzzi and bar.
Just as enticing are the financial benefits Synchrony offers. Through shared expenses, partners save big on yacht ownership. Research shows that most yacht owners use their yachts between five and six weeks per year. And on average, a fully equipped 120-130-foot yacht costs $1.4 million per year to maintain (excluding trip expenses and provisions). By contrast, Synchrony owners enjoy similar usage and access at a significantly lower cost. In addition, Synchrony represents a great alternative to charter programs with year-round flexible access and a consistently high standard of service on every yacht in the fleet, eliminating the variable and often inconsistent service people experience in chartering different yachts.
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