Lagoon Catamarans and Sea Style Partners just formed a joint venture to promote a fractional ownership program for Lagoon’s multihull power and sail yachts.
The two companies announced their new partnership at the Cannes Yachting Festival, saying it will give owners access to Lagoon’s international network of yachts and Sea Style’s experience in fractional ownership, yacht management and crew services.
Mathias Chouraki, the president of Sea Style, said the new partnership “shows that fractional ownership is not only trending, but also will become an important part of our industry in coming years.”
The program offers owners a 25 percent or 50 percent share in a fully crewed Lagoon, equipped with top-end amenities. They are then guaranteed a minimum of seven to 14 weeks a year on the boat themselves, depending on their ownership share. They can plan their boating time in advance, or with just 48-hour notice if other owners are not on board.
Owners share operating costs, depending on their percentage of ownership. Sea Style manages the accounts for the boat and provides owners with a monthly expense statement. It also handles all operations, including crew management, insurance, dockage, regular maintenance, and repairs.
“Yacht owners typically use their boats five to eight weeks a year,” said Chouraki, “and ownership in the Sea Style program allows them the same level of usage while having their yacht fully managed so they can enjoy a luxury vacation while significantly reducing their cost of ownership.
Two Lagoon power cats will be in the program initially, the Lagoon Sixty 7 (pictured at top), starting at $1 million, and the Lagoon Seventy 8, starting at $1,775,000. The Lagoon Sixty 7 will be delivered in time for the Miami show next February, and will join the Sea Style fleet immediately after. It will cruise between Florida and the Bahamas for the winter season, and go to the Hamptons, Newport, Martha’s Vineyard and Nantucket in the summer.
Lagoon is part of France’s giant Beneteau Group. Sea Style is based in Annapolis. Read more:
