Boat rental market reaches 2 billion dollars

There is a commercial boat fleet of 5 thousand 555 boats in Turkey. While this fleet creates a transaction volume of 600 million dollars in the blue tour, this figure exceeds 1 billion dollars with hourly rentals. The size of the boat rental market is around 2 billion dollars.

From the issue dated 6-19 August 2023

There has been activity in the boat rental market in the world and in Turkey in recent years. Boat holidays are preferred for reasons such as offering a more boutique and free holiday compared to the high increase in hotel prices. The total size of the boat rental market in Turkey reached 2 billion dollars.

While there is a commercial boat fleet in Turkey consisting of 5 thousand 555 boats, this fleet creates a transaction volume of 600 million dollars on blue cruises. When hourly boat rentals are added, the figure exceeds 1 billion dollars.

The boat rental industry, which completed last year with high occupancy rates, aims to reach the expected level by the end of 2023, although it started this year slowly.

Founded in 2016, viravira.co is Turkey’s first online boat rental and sea experiences platform that brings together advertisers and end users. The platform, which gathers the yacht rental sector under one roof and takes important steps in making the sector transparent and safer, also dominates the data traffic of the sector.

viravira.co, which includes 12 thousand boats anchored in 60 countries and 1,400 different locations, especially in the Mediterranean Basin, in its portfolio, highlights these advertisements on loyalty platforms such as Miles&Smiles, Turkcell Platinum and Hopi, social media and search engines.

Baran Yıldırım, co-founder and CEO of Viravira.co, emphasizes that the size of the boat rental market is approaching the level of 2 billion dollars when considered as all sea experiences. Pointing out that 2023 started slowly in boat rentals due to the election and earthquake disaster, Yıldırım said, “We reached 95 percent occupancy in 2022, and our expectation for 2023 is 90 percent. As of June, the demand and reservation figures from our customers are above our expectations. “The data show that we will close 2023 in line with our expectations,” he says.

Yıldırım says that according to the reservation data made through viravira.co this year, the most requested boat types are gulet, motor yacht, sailboat and catamaran, respectively.

COSTS ARE CHALLENGING

The boat rental sector is developing in our country, but one of the biggest obstacles to the development of the sector is the small number of marinas and the high prices of marina services. In this case, it is one of the most important factors that increases boat rental costs.

Murat Bekiroğlu, President of the Yacht and Boat Industry Association (YATED), pointed out that the accommodation capacity of around 6,500-7 thousand boats in Turkey has been filled and said, “Although there is a very serious potential, there is a lack of capacity. The biggest obstacle to our industry is the insufficiency of marinas and the rise in prices. “The reason for the increase in prices is that the supply is far below the demand,” he says.

NEW INVESTMENT IS NEEDED

While there are a total of 83 coastal facilities in Turkey, such as marinas, yacht mooring piers and municipal shelters, operating with certificates from different ministries, their total mooring capacity is 19 thousand 191.

Stating that those who want to start sailing with 8-10 meter long boats are stuck with marina prices, Bekiroğlu gives the following information: “For example; Those who want to buy a boat worth 30-40 thousand Euros and go to sea take a step back when they see the prices in marinas.

In other words, we are offending people even as we begin maritime activities in our country, which is surrounded by seas on three sides. That is why it is of great importance to build sea landing ramps as soon as possible and to invest in new coastal facilities (marina, yacht pier, private boat shelters) required to accommodate private boats.”

Bekiroğlu emphasizes that new investments in this field will ensure the supply-demand balance and pave the way for our country to earn more foreign currency.

Pointing out that it is beneficial to make new investments on appropriate treasury lands, not on Turkey’s paradise bays, Bekiroğlu states that the private sector and investors need incentives and support for investments in marinas, yacht piers and private boat shelters.

THE BOSPHORUS ALSO FEATURES

The most preferred routes this year are Göcek, Bodrum, Fethiye, Marmaris and Bozburun. While there was a foreign-related weakness in Bodrum, where luxury boats are located, during the pandemic, according to the current data of viravira.co, it seems that Bodrum came in second place after Göcek.

In addition to the southern regions, the Bosphorus has recently started to stand out when it comes to boat rental. In addition to the developing business life, the development in health tourism is effective in this.

Prices for boat rental vary depending on the location, size, type and class of the boat. It is possible to rent a sailboat on the southern coast of Turkey in high season, with prices starting from 1,500 TL per person per day.

Prices for catamarans, which offer wider living space to sailing enthusiasts, start from 2 thousand TL per person per day. The daily rental fee for wooden gulet type boats, which can accommodate larger groups, starts from 2,500 TL.

It is possible to take a blue cruise on motoryacht type boats, which are indispensable for speed and comfort enthusiasts, with prices starting from 3 thousand TL per person per day. The daily rental fee of the highest priced boat on viravira.co is 2.5 million TL.

DIGITAL PLATFORMS ARE GETTING STRONGER

Mazu Yachts Global Sales Director Orhun Şentürk emphasizes that the increasing number of tourists in Turkey in general and especially in Istanbul in recent years, with the influence of health tourism, has also increased the demand for boat tours on the Bosphorus.

Pointing out the importance of daily Bosphorus tours for the promotion of our country and Istanbul, Şentürk said, “With our announced tourism policy, it is obvious that this demand in Istanbul will continue to increase.

“If we compare it with cities such as Paris, London and Amsterdam, it becomes clear that fleet investment must continue in this regard,” he says. Şentürk states that new entrepreneurial companies working only in boat rental are strengthening their secure e-commerce portals.

BARAN YILDIRIM / CEO of VIRAVIRA.CO
“WE TARGET ADDITIONAL INCOME TO THE SECTOR”

“We launched the loyalty platform Ocean, Promotion Partner Program, API and White-label products. “With these products, which we have shaped in line with the demands from online tourism companies, physical agencies, content producers and bloggers at home and abroad, we aim to make marine tourism accessible to wider audiences and create a serious source of additional income for sector stakeholders.”