How It Works
One owner is appointed the ‘Boat Manager’ and one owner is appointed the ‘Finance Manager’.
- Each yacht has between 4 and 10 equity shareowners, enjoying between 3 and 12 weeks on board per year.
- The yacht’s ongoing running costs are then divided on a pro-rata basis to each owners percentage share.
- An algorithm ensures that each owner is treated fairly for the weekly use selection rota. (See below for details)
- The housekeeping team prepare the yacht for each individual owner, placing their personal items on board and removing all other owners’ DNA from the yacht, specifically to enhance everyone’s sense of individual ownership.
The Boat Manager is responsible for the detailed day-to-day management of the yacht. That includes all operational, maintenance and service issues as well as all owner liaison and the corresponding documentation.
The Finance Manager is responsible for the financial transactions related to the ongoing running costs of the yacht. This includes the detailed auditing and reporting of all the maintenance costs to all the respective owners.
Each yacht has its own website which is the yacht’s primary operational management tool which has 5 primary functions:
- Live usage calendar and online weekly selection facility.
- Real-time maintenance account spreadsheet showing all transactions to date.
- Owners’ communication forum
- Yacht’s documentation library
- Photo & video gallery of the yacht (Useful for informing future guests of what to expect).
Weekly Selection Process
Each person selects a week in rotation. Person 1 chooses one week, then it’s person 2, 3, 4, 5, 6, 7 and 8 all choosing a week at a time in order. This cycle is repeated until all 48 weeks for the year are allocated. (The remaining 4 weeks are retained as maintenance weeks). The following year it’s done in reverse order which gives the person who chose eighth the ability to choose first instead, and so on. Each year, after the 48 weeks are fully allocated, a bit of swapping goes on between owners by those who might prefer 2 weeks together for example. Our forum has a special section for week swaps or for cancelled, unused weeks which owners trade with one another.
There is always a good cross section of owners, who in turn have a real cross section of preferences. Some prefer school holidays, whereas those who are retired prefer to avoid school holidays. As a consequence every week from Easter until October half term has a relatively even level of desirability with July & August being slightly more popular. The remaining 5 months are still lovely in Mallorca, with sunny days and calm waters, with conditions often still better than an English summer’s day, so owners tend to enjoy their yacht more as a floating hotel, perfectly located in a vibrant port, rather than for sea passages.