As Boat Lagoon Yachting commemorates three decades of expansion as a dealership and yacht-services provider in Southeast Asia based in Thailand, Group Managing Director Vrit Yongsakul shares his insights on the family enterprise and its future directions.
What does Boat Lagoon Yachting’s 30th anniversary signify for you? What are some notable accomplishments from these years?
We have facilitated the sale of over 500 new and pre-owned yachts in our region. In the 60 to 100ft market, we hold the top market share, reinforcing our status as the preferred luxury yacht provider within this category.
Our achievements with models like the Princess Y85 and Y95 are exceptional, as we have sold the highest number of units globally. We are also significantly involved in the superyacht market, having sold numerous yachts over 35m and organized various superyacht charters in exquisite locations like the Maldives and the Mediterranean, alongside our local Southeast Asian offerings.
Where do you see the greatest opportunities for BLY in the future?
We approach the future with positivity. Southeast Asia is on the verge of considerable growth in interest in leisure boating, particularly concerning luxury yachts. Our improved brokerage services for all boat types will cater to a diverse range of clients that seek various yachts to fit their preferences and budgets, including berthing options in Asia and Europe.
The BLY team with their Princess Yachts bows at the Singapore Yachting Festival 2024
Yacht charters are expected to experience considerable growth for us, as they provide a flexible and luxurious experience without the obligations of ownership, buoyed by the allure of exploring Southeast Asia’s breathtaking cruising spots, especially around Thailand’s Phuket. Our charter services will include more customized memorable experiences to fulfill our clients’ unique desires.
What values and legacy did you inherit from your father, Kanit Yongsakul?
A pioneering spirit and a visionary outlook toward the yachting industry: he played a crucial role in establishing Phuket’s first marina complex, Phuket Boat Lagoon Marina, in the late 1980s, turning our family’s tin mine near Phuket Town into a thriving marina. His vision resulted in a 180-berth marina complex equipped with luxury villas, resort accommodations, and commercial spaces, paving the way for another Boat Lagoon Marina to open in Krabi in 2011.
A view over Phuket Marina
The most significant value I cherish from him is the drive to perpetually develop and elevate the yachting sector. Since taking charge of the company, which has been a marine yacht brokerage and service firm for 30 years across Southeast Asia, I have aimed to broaden our operations while upholding the high standards he established.
Positioned at Phuket Boat Lagoon, a primary focus for us is on advancing Princess Yachts’ distribution throughout Southeast Asia. In 2019, we allocated £20 million towards a brand-new fleet of Princess models, including the R35, F45, F50, F55, F62, F70, Y75, and Y85. Our dedication to introducing world premiere units to the region is clear, with sought-after models such as the 75MY, S60, 78MY, Y85, 88MY, and earlier ones like the P56, P60, P64, P68, and 72MY.
My father’s legacy has also emphasized the importance of promoting Phuket, Thailand, as a premier yachting destination. From the spectacular limestone formations of Phang Nga Bay to the untouched beaches of the Similan Islands and the unspoiled beauty of the Andaman Islands, we present unmatched opportunities for yachting, adventures, and enjoying local delicacies.
Jeanneau yachts – including the DB line – are well-liked for sale and charter through BLY
Having operated in Southeast Asia since 1994, what distinguishes this yachting market from others?
There are several distinct differences in the yachting market here when compared to more developed markets in Europe and the US.
Firstly, Asian owners tend to integrate boating into their lifestyle, prioritizing family and social gatherings. In contrast to the more individualistic or nuclear family-centric boating culture in the West, Asian owners frequently use their boats for multi-generational family excursions as well as social gatherings with friends and business associates. In Asia, yachting serves as a platform for both business networking and socializing.
There’s also a clear inclination among Asian owners for larger and more luxurious yachts, fueled by a desire for status and exclusivity, equipped with lavish amenities for entertainment, relaxation, and comfort. They prefer yachts with customizable and versatile layouts that accommodate various activities, from formal dining and business discussions to casual relaxation and water sports.
Owners often opt for shorter, more frequent trips, enjoying proximity to attractive cruising spots like the islands of Thailand, Malaysia, and Indonesia, which facilitate more spontaneous voyages compared to the lengthy cruising trips favored in Europe and the US.
Another notable trend is the growing emphasis on wellness and health among Asian yacht owners, who increasingly seek yachts featuring amenities like spas, gyms, yoga, and meditation areas.
The Boat Lagoon Yachting team with their exhibited yachts, celebrating at the Thailand International Boat Show 2024
Thailand and Singapore represent your largest markets in Southeast Asia; which ranges have been most well-received there?
In the Southeast Asian market, our sales records for Princess Yachts over the last three years demonstrate strong demand and buyer interest. We have successfully sold three Y95s – one of which debuted globally at the Cannes Yachting Festival 2023 – and one X80 – which made its Asian premiere at the Singapore Yachting Festival 2024. We have also recorded the sale of nine Y85s and the sporty flybridge S72 shortly after its global launch in Düsseldorf in 2022.
The 50ft range has also shown substantial demand, with more than 11 F-class yachts delivered during the same period, including two F65s, two F62s, one F45, and six F55s, highlighting the rising appeal of elegant, luxury mid-range yachts.
Jeanneau models reflect our clients’ growing interest in dayboats ideal for leisure with families and friends, particularly in Thailand and Singapore. The Merry Fisher 1295 Fly, the flagship model featuring three cabins, is versatile and family-friendly, earning popularity in the region. The Jeanneau Cap Camarat, recognized for its excellent performance and ease of handling, has become a preferred choice. The Jeanneau DB37 is set for launch in the third quarter of 2024, and we are introducing a fleet of stock vessels into the region, some of which will be available for charter.
Sacs, a top manufacturer of high-end tenders from Italy, aligns perfectly with our collaboration with Burgess, catering to clientele seeking yachts over 100ft that desire luxury tenders to complement their superyachts. We have sold several units from the Rebel and Strider lines to superyacht clients. These premium RIBs are ideal for use as runabouts around islands and are appealing to younger customers due to their sporty design and high performance.
Jeanneau’s family-oriented Cap Camarat range
How crucial is it to introduce new models to the market for clients in Asia?
We strive to stay ahead in the market and invest in presenting the latest yachts to the region. Customization is vital, and as sole distributors, we inform clients of the extensive options available. We have been able to provide personalized features like mahjong tables in lieu of coffee tables, whiskey cabinets, cigar drawers, and even starlight features in the flybridge.
After five years representing Burgess in Thailand, how is the BLY superyacht sector evolving?
We observe significant potential in the region to cultivate the superyacht market, especially in Thailand, where Phuket is establishing itself as the focal point for superyacht sales and charters, offering superior hospitality services within Asia.
The rising demand for yachting in our area is substantially enhancing our collaboration with Burgess, amplifying their superyacht sales and vast charter fleet. As Burgess is recognized as the global leader in superyachts, this partnership augments our unmatched local expertise and facilitates access to outstanding yachts exceeding 100ft for our clients in Thailand and Singapore.
Sustainability projects initiated by BLY unite their staff and clients
In what other ways are tastes shifting and demands changing?
Increasingly, sustainability is becoming a priority that encourages consumers to seek yachts incorporating eco-friendly technologies and materials, such as energy-efficient engines and sustainable building practices. At BLY, we are dedicated to sustainability and engage in CSR endeavors that aid marine conservation.
Since 2023, we have collaborated with the Department of Marine and Coastal Resources in Phuket, Thailand, to release leatherback turtles into the ocean. These majestic, now-endangered creatures were rehabilitated by the committed team at Phuket Marine Biological Centre. This initiative has attracted the attention and appreciation of yacht owners who value our contributions.
As Southeast Asia advances its boating infrastructure, including marinas and yachting facilities, the ease of yacht ownership and maintenance continues to improve. This progression supports the surging interest in yachting and boosts consumer confidence in investing in luxury and recreational vessels.
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This article was originally published on YachtStyle.co
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