While the 2020 Monaco Yacht Show is still set to go ahead between 23 - 26 September according to show organizers, it is being reported that a number of major participants have withdrawn from the show due to growing Coronavirus concerns and potential negative perceptions, and have urged the organizers to consider cancelling.
It was reported by SuperyachtNews that the industry’s leading superyacht manufacture and brokerage bodies officially withdrew from the 2020 Monaco Yacht Show yesterday.
The two associations, SYBAss (Superyacht Builders Association) and LYBRA (The Large Yacht Brokers Association), represent the industry’s leading large superyacht shipyards and brokerage firms.
The decision to withdraw from the show reportedly stems from a number of factors, including;
- Concerns over the safety of the show
- Clients willingness to attend the show
- Whether the show is appropriate within the context of a global pandemic.
The 21 SYBAss members collectively account for 60% of yachts over 40 meters delivered to their owners over the last decade. These include Lurssen, Feadship, Benetti, Amels, Heesen, Oceanco, CRN, Abeking & Rasmussen, Sanlorenzo and Turquoise yachts.
LYBRA is comprised of 8 brokerage companies; Burgess, Edmiston, Fraser, IYC, Northrop & Johnson, Ocean Independence, Yachtzoo and Y.CO. These firms represent a significant number of large pre-owned superyachts that attend the show every year.
Both LYBRA and SYBAss members have reached a clear decision that we do not intend to participate in MYS 2020, even if it is able to go ahead in September as scheduled.
The decision was made in a letter to the show's organizers. Excerpts from the letter are as follows;
“Throughout our industry, there has been much speculation as to whether the Monaco Yacht Show can take place this year. Lockdown arrangements across the globe currently vary and travel restrictions are extensive.
"It is clear that the necessity for social distancing will continue for the foreseeable future, but beyond that, the details of the varying government-led restrictions in the coming months is unknown.
“In this climate of uncertainty however, both LYBRA and SYBAss members have reached a clear decision that we do not intend to participate in MYS 2020, even if it is able to go ahead in September as scheduled. Our reasons are two-fold."
The letter is a positive letter; it is asking Informa to do the right thing and the right thing is to not have the show.
Neither SYBass nor LYBRA believe their target audience will attend, either due to travel restrictions or due to a diminished desire to participate in an event that could pose potential health and safety risks.
Both associations address that the boat show cannot guarantee the safety of their staff and clients.
Furthermore, the letter calls into question whether or not it would be appropriate for a luxury event of this calibre to go ahead in the face of a pandemic, pointing to the perceptions of the superyacht industry as a whole.
The letter finishes by requesting that show organizers Informa consider cancelling the show.
Michael Breman, Sales Director at Lurssen, commented; "The letter is a positive letter; it is asking Informa to do the right thing and the right thing is to not have the show.”
“The reason we are doing this is to bring the show forward so that it actually achieves what it professes to."
The news comes after the organizers of the Monaco Yacht Show announced the show would still be going ahead in a newsletter on April 16.
YachtCharterFleet has reached out to the Monaco Yacht Show for comment.
The reason we are doing this is to bring the show forward so that it actually achieves what it professes to.
This latest development makes it clear that the way we travel and enjoy vacations will be different as we adjust to socially disruptive measures in the pre-vaccine Coronavirus era.
However, it's likely that superyacht vacations may be one of the first forms of luxury travel to bounce back, as yachts are self-contained, controlled environments where you can maintain Social Distancing at sea. As a result, we can expect Social Distancing Yacht Charters to become popular until new measures to control the spread of the Coronavirus are developed.
For more information, please refer to our Coronavirus Superyacht News.