Log In

Reset Password
BERMUDA | RSS PODCAST

Let’s pursue the private yacht market

(Photo by David Skinner)The private motor yacht Eclipse arriving in Bermuda waters earlier this week. It is owned by Russian tycoon and Chelsea football club owner Roman Abramovich.

Has anyone seen the massive yacht Eclipse currently berthed along Front Street? This edifice of the ocean is the proud property of Russian businessman and billionaire Roman Abramovich.So what, you may ask? Why are we discussing this? Well, the answer is that in our efforts to generate additional visitors this is exactly the type of client and situation that favours Bermuda and the type of person we should be targeting in our marketing efforts.Mr Abramovich owns Chelsea Football Club of the England’s Premier League and there are a host of Chelsea supporters in Bermuda. One of my bredrens, who is from the area and a die-hard Chelsea supporter, recently took his kids to a Chelsea game, to see the museum, a full tour of the complex; what a time that must have been.Although I’m a die-hard Arsenal supporter, I will confess that I too own a Chelsea jersey. Don’t hate me for that. So there is some local interest in the yacht and Mr Abramovich, but I digress. Back to marketing Bermuda.Of course we should target the wealthy in addition to our targeting of traditional leisure and business travellers, but we often kid ourselves into thinking that average working class Americans (80 percent of our visitors still come from the US) can afford the Bermuda experience. They can sometimes afford Bermuda, but it is usually a stretch and they will complain about the cost of things in Bermuda. So does it make sense to try to force feed this audience to come to Bermuda? Yes, but only on discounted packages and primarily with our smaller properties, or on discounted packages on cruise ships. This market segment should not really be the focus of too many of our marketing dollars.Back in 2006 I was involved in a study of the affluent traveller and it is clear that this is the audience that can afford the Bermuda experience.If Mr Abramovich is here, we should leverage the opportunity. We should thank him for coming to Bermuda and invite him to bring his friends or encourage them too to visit Bermuda. We should invite him to meet the Premier, Governor, Opposition leader, Minister of Tourism and Transport, Minister of Economic Development, captains of local industry. It’s ok if he declines the invitation but hopefully someone extended it.If we want to grow our economy one way to do this is to chat with people who know how to make money.This guy can help us on a number of fronts. He can help us to generate business for the international business sector and the tourism sector. His visit could help put Bermuda back in conversations of the rich and famous, which can only be good for business.Bermuda could become the ”in” place to take your luxury yacht. Often when one wealthy person does something, all the others want to do the same thing to stay cool or current with the leaders in that income bracket.The banks and investment institutions can benefit from doing business with folks like Mr Abramovich law firms, insurance companies, accounting outfits, asset managers; retail stores; this is just a win-win situation and we should try to invite more owners of luxury yachts to Bermuda.This could be the answer to our inability to negotiate a successful fleet of cruise ships to visit Bermuda. I understand that part of the reason is because we are too small and the ships are just getting bigger and bigger.There is also the way we handle getting cruise passengers around the Island. Our public transportation infrastructure has proven not to be sufficiently sophisticated or efficient to effectively serve large volumes of visitors to and from Dockyard.This has to be addressed. Clearly if we can target the private yacht market we don’t need to widen the Towne Cut in St George’s and the East End gets some business. They can get through Two Rock Passage with the skipper sleeping; Hamilton has enough empty berths and this would be a match made in heaven.So kudos to whoever is responsible for getting Mr Abramovich and Eclipse to visit Bermuda. If we did nothing and it is just our sheer, dumb luck, thanks be to God.But let’s learn something from this and use it to grow our tourism business and get Bermuda going again.And now, the Top 20.Up to #1 is Locked Out Of Heaven by Bruno Mars. Enlightened music lovers will appreciate the fusion of so many different musical genres in Mars’ songs. This guy has swag.Tumbling to #2 is Diamonds by Rihanna, the queen of pop music and pop culture.Up to #3 is the recent hit from Justin Bieber and Nicky Minaj entitled Beauty and a Beat. This one kicks, has a big beat and catchy lyrics. The fact that it is performed by two of the industry’s darlings doesn’t hurt.Improving to #4 is Don’t Stop The Party, by Pitbull, arguably the king of dance music.Falling to #5 is Let Me Love You (Until you Learn to Love Yourself) by Ne-yo. This one has sweet lyrics, unusual for an up-tempo dance track, but it works.Slipping to #6 is Die Young by Ke$ha. Up to #7 is a former essential new tune, Whistle, by Flo Rida.Down to #8 is Gangnam Style by PSY.Improving to #9 is last week’s essential new tune, Thrift Shop by Macklemore and Ryan Lewis featuring Wanz.Soaring to #10 is Scream and Shout by will.i.am and Britney Spears.Advancing to #11 is I Found You by The Wanted.Up to #12 is Big Banana by Havana Brown featuring R3hab.Improving to #13 is Right Now by the queen of pop, Rihanna, featuring David Guetta last week’s essential new tune.Up to #14 is Too Close by Alex Clare.Improving to #15 is Na Na Na by Akon.Tumbling to #16 is Anything Could Happen by Ellie Goulding.On the way up at #17 is F*ckn Problems by A$ap Rocky.Climbing to #18 is Neva End by Kelly Rowland and Future.Jumping up to #19 is My Confession by Demarco.Tumbling to #20 is a former essential new track, Clique, by Kanye West, Jay-Z and Big Sean.Peace.....................DJLT.