Denison Europe reveals sales and charter results from first year of operations
by Denison Yachting 30 Sep 2023 08:45 PDT
Denison Yachting highlighted its European advancements and achievements in the last year at this year's Monaco Yacht Show, as well as outlooks for the future of superyacht sales and the charter market in Europe.
Denison's Europe Director Jeremy Roche shared his updates on the European office's growth, which included the recent move into the new, much larger Monaco office-both in size of space and team. Jeremy stated that the brand-new Le Panorama office, which the team just moved to in August, is "three times the size of the previous office, now with a team of ten."
He discussed sales, citing that Denison Europe has sold 13 yachts in the last year, totaling an estimated €70 million. In regard to central agreements, he focused on the 21 current listings with Denison in Europe, for a total value of €90 million in central listings. He highlighted that two of these yachts are new builds-a Princess Y85 delivered in July 2023 and a 50m Dynamiq to be delivered in March 2025.
The charter side of the business has expanded as well, with Charter Management joining the picture in Europe from January 2023. To date, Denison holds eight charter yachts in the European fleet, the largest of which is the flagship 51m Yildizlar ARESTEAS. Looking back at the recent charter season, Jeremy admitted that it did not necessarily meet expectations, mentioning a lot of late bookings in the mix, but he also said that it appears to have been reflected across the industry. His outlook for next year looks better with multiple bookings and enquiries for 2024.
While Jeremy acknowledged that it is "always tricky" to predict the future of the market, he shared: "The outlook currently looks positive. The market has definitely had an adjustment compared to the 2021/22 highwater, but there is still lots of demand, enquiries remain high, and there is increased traction in securing CAs. The focus going forward is to expand footprint with locations considered in Palma, London, Istanbul, and Dubai."
With boat show season in full swing, Denison is proud to be an integral player in the European yachting industry, and worldwide.