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How much does it cost to charter a yacht?

There are many things to consider and first time charterers can be left confused, that's why we've created a comprehensive guide to yacht charter prices (with a checklist).

The good news: It’s easy to grasp the basics of yacht charter pricing. And with one of our experts in your corner, we can help you more accurately estimate the cost of your next once-in-a-lifetime vacation.

The cost of a yacht charter is dependent on a number of factors, including the type of yacht, the charter destination, local taxes, and the base cost. (If the yacht has a celebrity owner, well that too, can add to the cost.)

Therefore, yacht charters have a wide range of base prices. That’s why charters can cost from $10,000 per week on smaller sailing yachts and catamarans, up to $150,000+ per week on the most luxurious motor superyachts.

What else can you expect to pay? This overview – a part of our planning resource, the Charter Advice Guide – offers an in-depth look at charter yacht costs.

Yacht Charter Price Structure: “All-Inclusive” vs “Plus Expenses”

In the world of yachting, two types of crewed yacht charters are available to you – “All-Inclusive” and “Plus Expenses” charter experiences. What do these terms mean exactly? Here’s a quick look:

• All-Inclusive Yacht Charters – Some charters (mainly catamaran and monohull charters in the Virgin Islands) offer all-inclusive rates. That means rates are based on the number of guests, and they include all food and drink, water sports, and fuel costs. Dockage and taxes, though, are usually charged separately.
• Plus Expenses Charters – Rates for larger motor yachts do not include running expenses, which must be paid separately. For these luxury charters, the base price is for the yacht only. Additional expenses, i.e. food, bar, fuel, dockage, port taxes, and other expenses, are charged separately. Most frequently, the running expenses are paid by an Advance Provisioning Allowance, or APA, which is typically 35% of the base price; this is an amount that’s paid prior to the charter.

Our chart below offers a quick overview of what’s included in both of these types of charters.

Average Yacht Charter Cost: Base Prices

What can you expect to pay for a catamaran, a sailing vessel, or motored yacht? Here’s a quick overview of the average cost to rent a yacht (not including extra expenses) for the most common types available:

Factors that Affect Yacht Charter Prices

Since charter yachts are privately owned, prices are set by the owner. This can explain, in part, the wide range of differences in price between boats of similar lengths. Yet, several other factors can significantly impact price, including:

• The Yacht – The year the boat was built, the builder, previous owners, and the boat’s selection of water toys can also increase the cost of a yacht. Boats can also develop a reputation, i.e. the largest or most luxurious, or having a famous builder or previous owner. Reputation can also affect pricing.
• Season – Prices typically increase in the high season – i.e. high summer in the Mediterranean or winter in the Caribbean – and decrease in low seasons.
• Destination – Your charter destination also plays a role in charter cost. For example, prices increase in areas without large charter fleets (i.e. the Galapagos), whereas Bahamas yacht charters,   BVI charters , or Mediterranean yacht charter are priced more competitively.

Additional Costs Considerations on Yacht Charter

In addition to the cost associated with running the yacht and provisioning, there are a number of other costs that must be considered. These are the most significant:

Advanced Provisioning Allowance

The APA on Plus Expenses charters equals roughly 35% of the yacht’s base price. This is a fee that’s collected prior to charter, and it’s similar to an expense account the captain can access during the charter. At the end of the charter, you will receive a detailed accounting of your APA account, plus any unused APA funds in cash.

In the case of overages, you may be required to replenish the APA account during the charter. This can be done with cash, although many choose to set up accounts with their charter brokers , which can be accessed if requested by the captain.

Taxes and Value Added Tax (VAT)

Most boats – whether all-inclusive or Plus Expenses – will not include local taxes or a Value Added Tax into their charter rate. The charterer will be responsible for paying those taxes. Taxes range significantly by destination; here’s a look at some of yachting’s most popular destinations:

• The Bahamas – Tax: 4% plus 10% VAT
• BVI – Tax: between $6 and $16 per person per day, depending on the flag of the boat
• Croatia – VAT: 13%
• Florida – Tax: 6% for Broward County, 7% for Miami-Dade County
• France – VAT: 20%, however, 10% can be applied when an itinerary includes International Waters
• Greece – VAT: 12%
• Italy – VAT: 22%, however 6.6% (over 24m) and 8.8% (under 24m) can be applied when an itinerary includes International Waters
• Montenegro – NO VAT
• New England – NO TAX
• Spain – VAT: 21%
• Turkey – NO VAT

Charterers can purchase cancellation and curtailment insurance – which is similar to traveler’s insurance. This insurance can help cover costs if a charterer must cancel or shorten the charter. Charter brokers can help you weigh insurance options, and often offer several different options.

Crew Gratuity

While crew gratuity is certainly not mandatory, it is recommended, particularly if you were truly impressed with your charter experience. In general, crew gratuity is roughly 15-20% of the base charter rate, which is handed to the captain at the conclusion of your charter.

Delivery Fees

While these fees do not apply on most charters, you may be asked to pay delivery costs if you are not chartering in the yacht’s normal cruising ground. In most cases, you will only be required to cover the fuel for the trip.

Call Worldwide Boat today to learn more. Our Charter Specialists are here to assist you with every detail and explain all charter costs. Or read our Charter Advice guide for more information and tips for planning your charter vacation.

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Additional Charter Cost FAQs

What are standard private charter yacht prices?

There are a number of factors that affect charter yacht pricing. However, on average, a week-long private yacht charter costs anywhere from $10,000 on luxurious sailing yachts and catamarans, and up to $150,000 for superyachts.

What affects charter yacht prices?

There are several things that influence how much your yacht charter will cost. The type of vessel, charter destination, length of trip, base cost, time of year, and local taxes all make a difference.

How much does it cost for a crewed vessel?

Charter yacht prices do increase when hiring a crew along with the boat. At Worldwide Boat, we offer two types of crewed charter experiences: all-inclusive and plus expenses. An all-inclusive charter yacht includes accommodation for all guests, food and drink, water sport activities, and fuel costs – dockage fees and taxes are charged separately. A plus expenses experience accounts for just the yacht’s base price. Things like food, drinks, fuel, dockages, taxes, and other expenses are charged separately and are usually estimated to be about 35% of the base price.

What’s included in all-inclusive boat charters?

At Worldwide Boat, your all-inclusive charter experience includes a diligent and friendly crew, water toys, food, drinks, fuel, water and electric services, and occasionally diving experiences.

What are some additional charter boat costs to consider?

After finding a base price you’re comfortable with and evaluating your package, you’ll also want to consider delivery fees, crew gratuity, insurance fees, taxes, and Advanced Provisioning Allowance rates. If you are responsible for these fees, your crew will handle the necessary transactions on your behalf.

What does it cost to rent a 100- foot yacht charter?

This depends on what type of vessel you’re looking at and how long you’ll need it for. The average weekly cost of a 100-foot sailing yacht is between $50,000-100,000. A weekly 80-foot catamaran charter runs around $40,000-100,000, and a week-long 100-foot motor yacht rental is anywhere between $50,000-80,000.

Does the price to rent a yacht change depending on what type of boat it is?

Yes. Worldwide Boat offers sailing yachts, catamarans, and motor yachts. All of these vessels have different capabilities, but there are other factors that determine the price beyond what type of boat you choose. The year the boat was built, owner, availability of water toys, onboard amenities, and the ship’s reputation can all change how much the ship is priced at.

When is the high season for yacht charters?

The price of a yacht fluctuates depending on the season. A Mediterranean yacht charter cost rises in the summer and drops in the winter, whereas Caribbean boat charter prices are high during the winter and lower in the summer months.

How does my destination affect charter yacht cost?

The more remote an area is, the more expensive it will be to charter a yacht there. That’s because prices go up in areas that have fewer boats. If you were to travel somewhere like the Galapagos, which isn’t a typical yacht destination, you’d pay more than you would if you were traveling to the Caribbean.

How much do I tip the crew when reviewing my yacht charter expenses?

It’s not required that you tip your crew, but it is recommended and appreciated. If you had an enjoyable experience it’s considered polite to tip your crew anywhere from 15-20% at the end of your charter.

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Yacht Charter: How Much Does it Cost? All Rental Costs Explained

How much it costs to rent a yacht isn’t always a very clear cut answer. There are numerous ways to charter a yacht and different factors can significantly increase or lower the cost of a yacht rental.

Here are the main costs to consider to estimate the total yacht rental price of your next yacht charter.

Yacht Rental Costs in a Nutshell

To calculate the price of a yacht charter, you need to sum the base fee of the yacht charter (the price you see displayed on websites), taxes (varies depending on destination), APA , crew gratuity and insurance cost . 

Depending on the details of your yacht charter, you will need to add between 30% and 100% on top of the base fee to have the total cost of your rental.

Here is an idea of the ranges you can expect for the yacht charter base fees :

• Motor Yachts – Sailing Yachts under 50ft: €4 000 – €15 000 / week
• Motor Yacht – Sailing Yachts between 50ft and 65ft: €15 000 – €40 000 / week
• Motor Yachts – Sailing Yachts between 65ft and 80ft: €40 000 – €70 000 / week
• Motor Yachts – Sailing Yachts between 80ft and 100ft: €70 000 – €100 000 / week
• Motor Yachts – Sailing Yachts over 100ft: €100 000 – up to 1,000,000 / week

To know the estimation of your total yacht rental cost based on your situation, use our free calculator below , or read the next paragraphs to make the calculations on your own.

What is the (true) cost of chartering the yacht you've seen? 💰⛵

The advertised prices of all charter companies do not include APA, VAT & other variable costs. 

Use our calculator to get a 100% FREE estimate of the REAL total cost of your next yacht charter! ⬇

How is the total price of a yacht rental calculated?

There are two main categories of yacht charters: all-inclusive or separated charges. 

The all-inclusive yacht rentals option (rare)

The all-inclusive option isn’t very common in yacht charters, and tends to be for smaller yachts and cruise where it’s easier to package a standardized offer.

As the name implies, all-inclusive yacht charter offers a price that includes everything: fuel, food, beverages, and entertainment (diving and fishing equipment).

The “usual” option: base charter rates and separated variable charges to add on top

In most yachting websites, the price of a yacht charter only refers to the  base price  of a boat at its lowest possible charter time.

It doesn’t include many variable costs such as food and beverage, fuel, taxes, insurance and so on.

To understand the total cost of chartering a yacht when it’s not all-inclusive (which is almost always the case), it’s therefore important to split the costs that are included in the base rate of the yacht (the price you’ll see displayed on a website) from the costs that are not included in that base rate , that you will therefore need to add yourself if you want a precise estimation.

Don’t worry, the math isn’t rocket science.

The formula goes like this:

Total yacht charter price = Base charter fee + APA + Taxes + Insurance

We’ll detail each costs in the following paragraphs.

The base charter fee of a yacht rental: Costs and factors included in the calculation

The base charter fee of the yacht rental is essential in calculating the total cost of your charter. Most variable costs are calculated as a percentage of that base fee and are simply summed up together along with the base fee to get the total cost.

Here is what you should know about the base charter fee.

The base charter fee follows a simple rule: the longer the yacht, the higher the charter cost

The boat’s size affects the base charter fee considerably. It determines the number of cabins and guest capacity , the number of staff on board, along with a lot of amenities that tend to get more spacious and more luxurious the longer the yacht gets. 

Everything that comes with the yacht (including the staff!) is included in the base charter fee.

The more reputable and in-demand the yacht is, the higher the base fee gets

A yacht reputation and popularity can also affect the base fee, even for boats within the same size range.

Boats are by definition limited in stock and follow supply and demand laws . When a particular yacht is in high demand, whether it’s thanks to its reputation, its features, the season or its recent appearance in a movie, series or TV shows the price of the charter can shoot up.

For instance, chartering a yacht featured in a James Bond movie such as  luxury yacht Regina  won’t cost the same as a regular model. Likewise for most yachts that are a part of the popular Below Deck TV show .

It can also be true for some classic yachts that had famous builders or previous celebrity owners.

The season does influence the yacht rental prices at the base fee level

Your yacht charter base fee depends to some extent on your date of departure. 

If you take your vacation during the busiest weeks of the year (high season) of a destination, you’ll pay a higher base price than someone who charters a yacht on low season dates.

In the Mediterranean, the high season is in summer while it’s in winter for the Caribbean. The yacht charter base fees will be at their highest during these months. 

Sometimes just a week or two can make a big difference to the price. Chartering a yacht in shoulder seasons can be a good idea when you are looking for good deals.

Likewise, since some destinations have very short seasons , it has increased demands and makes it more expensive.

International events will also increase the cost of a yacht charter. Expect to pay more if you want to attend the Monte-Carlo Masters (April), the Cannes Film Festival (May), or the Monaco Grand Prix (May) during your yachting vacations in the Mediterranean.

The destination you pick can affect the base charter fee of your yacht rental

Your vacation destination is an essential factor in the yacht charter charge that is included in the base fee. 

As the supply and demand law dictates, the more competition there is, the less you have to spend. It is why locations with large charter fleets are less expensive.

The Bahamas, BVI and the Mediterranean are for example more affordable than remote islands without established yachting industries.

The water toys are usually included in your base yacht charter fee and influence its amount

On a yacht, water toys don’t refer to your average backyard inflatable unicorns. Think instead of big equipment for marine activities: jet skis, kite-surf, kayaks, paddleboards, submarines, and expensive high-powered yacht tenders.

Some vessels come with sea pools or a giant slide to glide from the top of the boat straight into the ocean.

Most of these items, especially when they are in high numbers, can come at a cost that will be on the bottom line of your yacht charter invoice.

All the water toys specified in the yacht brochure when you make the reservation are generally included in the base fee . But it’s up to you if you want to rent others or even buy them. Make sure you ask your broker for advice about the cost of these extra if your budget is limited.

The base fee of your yacht charter is fixed and proportional to its duration

Most yacht charter companies only work ‘per week,’ and yacht owners rarely accept a shorter duration. Many companies have minimum stays of ten days, however some boats accept day charter or short periods, you can always ask your broker for an appropriate selection.

You can rent a vessel for two weeks or more, but the price won’t go down for longer holidays.

Yacht rental costs that are NOT included in yacht charter base fee

Now that we’ve seen what is usually included in the charter base fee, let’s find more about all these costs that you’ll have to add to the base fee to estimate your total yacht rental cost.

APA: the main variable cost of your yacht charter (add 20%-40% to your base fee)

The charter fee usually covers the cost of renting the yacht and the crew’s salary. But you still need to pay for fuel, provisions, and other extras for your trip. 

A fee covers all these additional costs : APA or Advanced Provisioning Allowance.  Find out more about the APA here.

APA is the standard system to pay your expenses on a luxury yacht charter, and it is generally a percentage of the charter fee. You’ll usually end up paying between 20% and 40% more than the base cost of the yacht charter in APA.

The amount varies a lot, depending on the ship and your activities. It will increase if the yacht has a higher fuel consumption, if you plan on cruising more than 4 hours a day, if you want to have onboard particular expensive brands, etc.

What does the APA cover?

APA covers all the day-to-day operating expenses. It also includes any special requests you might have while you’re on board. 

Here are the main costs of your yacht rental the APA covers: 

Food and drink

On your yacht charter, the chef can prepare all the dishes you want, whether you are vegan or low carb, whether you have allergies or require kosher meals. Make sure that you explain your food preferences to your broker.

Fuel Charges

Your fuel costs will depend on your boat, your itinerary, and whether you choose to cruise or stay at anchor. A sailing yacht charter can cost 10% less than a motor yacht charter because the fuel consumption is smaller.

This amount also includes the fuel expenditure of any water toys and tenders you use during your charter.

Harbor fees and dockage

The harbor fees and dockage will be more or less high-priced depending on your destination and season. All these costs will be included in your APA.

Communications Costs

For most people, yachting is about enjoying life outside of the daily routine. If you can’t survive without the Internet or satellite communications, you don’t have to worry. Your yacht charter will provide you all the digital connections needed. They won’t add much to the APA, but it’s still something that comes at a price.

Delivery fee

If you board or disembark the ship outside its usual harbor, you’ll have to pay a transportation fee to cover the fuel required to get your yacht to your requested destination.

Interiors and Laundry

The APA fee includes interiors and laundry costs to keep the yacht immaculate. But if you request unique decoration, it may add an extra charge.

Personal laundry services may not be covered depending on the yacht.

Taxes: a cost that varies a lot from country to country (add between 0% and 35% on top of base charter fee)

Taxes do have an impact on the total cost of your yacht charter, especially in some destinations.

For example, in Europe, chartering a commercial vessel is subject to VAT . But fees vary significantly according to your destination and itinerary. Some countries have a 0-tax rate (Montenegro, New England), while in others a passage in the international waters can lower the VAT rate.

The taxes can vary from VAT, national parks entrance (la Maddalena in Sardinia for example), countries taxes etc. the VAT and taxes will be based on the charter fee, so make sure you discuss this with your advisor to anticipate the cost.

Here are some VAT rate applied on luxury yacht charter in 2022 :

–  Charter in France  will be at 20 % VAT based on charter fee

–  Charter in Italy  will charge 22 % VAT based on charter fee

–  Charter in Spain  will charge 21 % VAT based on charter fee

–  Charter in Croatia  will charge 13 % VAT based on charter fee

–  Charter in Greece  will charge 24 % VAT based on charter fee with a discount of 60% on charter of more than 48h ending usually at 12% VAT, this is subject to change in 2022.

Moreover some countries such as Spain or Greece charge a licence for a yacht to be able to embark passengers for a paid charter in their waters, this explains why not every yacht can cruise in all countries.

Crew gratuity: a good practice to include in the cost of your yacht charter (add 15-20% to the base charter fee)

The crew on a yacht work even if you don’t notice it. 

Serving, cleaning, preparing, fixing, they are the key elements that make your charter a success. 

Even if tipping is not strictly mandatory, it is common practice to include a tip to the team when you are satisfied by their services. 

The suggested amount is around 15-20% of your base charter rate . It is therefore important to include this amount in your yacht rental price beforehand.

Yacht charter cancellation insurance: a small cost that can save you a lot (add 15% of your base fee)

Cancelling or shortening a yacht charter can be very expensive if you don’t have cancellation insurance.

It is a small price to pay to ensure that all the money spent on your yacht charter will not go to waste if some unfortunate event leads you to miss your yacht rental.

As a charter company, we will help you select the best insurance options among several different offers.

In most cases, your cancellation insurance will cost around 15% of your charter base fee.

A typical yacht rental total cost isn’t as hard to determine as it seems when you know all the variable costs and your base fee.

Once you have your base charter fee in hands, add the following costs to estimate the final amount you’ll see on your yacht rental invoice:

• 20% – 40% on top of your base fee for APA (low end for sailing vessels, higher end for motoryachts)
• 0% – 30% of taxes and VAT on top of your base price. Highly dependant on your destination.
• 10% – 15% on top of your base fee for crew gratuity
• 15% on top of your base fee for cancellation insurance

Get in touch with our team to estimate more precisely the cost of your yacht charter project.

FAQ about cost of yacht charter and APA

Small motoryachts and sailing yachts under 50 ft (15m) can be chartered from 4,000€ to 15,000€ weekly.

Chartering motoryachts and sailing yachts between 50ft and 65ft costs between 15,000€ and 40,000€ weekly.

Between 65ft (20m) and 80ft (24m), you can expect motoryachts and sailing boats charters between 40,000€ and 70,000€ weekly. Between 80ft (24m) and 100ft (30m), the cost of chartering a yacht ranges between 70,000€ and 100,000€ weekly.

For yachts over 100ft (30m), the cost of charter ranges between 100,000€ and 1,000,000€ weekly.

APA stands for Advance Provisionning Allowance. You pay this fee in advance to cover food and drinks, fuel charges, harbors fees and dockage, communication, delivery fee various fees such as cleaning or interior design.

Advance Provisionning Allowance varies depending on your travel plans. Usually, it represents a surcharge of 20% to 40% on top of the yacht charter base price.

The APA is due one month before you set sail when dispensing your final charter payment. The captain directly receives the money and will supervise all the purchases made before and during your journey. He will be responsible for ensuring the crew stays within budget and will provide receipts upon request.

APA estimations are usually accurate. The captain will keep you updated during your trip. If you decide to go over the initial payment, you can top up the APA in cash or pay the balance during your trip.

With transparent communication, realistic budgets, and advanced provisioning, you may spend less than the APA and have the difference returned to you at the end of the cruise.

Get the base charter fee of your yacht rental, add taxes, APA, crew gratuity and cancellation insurance and you will have a very close estimation of your yacht rental cost everything included.

The base charter rate includes everything that is on a yacht: cabins, amenities, water toys along with the crew. Everything else (fuel, food, taxes…) come at an extra cost.

Crew gratuity is usually comprised between 15% and 20% on top of the base charter fee for most yacht rentals.

For sailboats in tax free areas, you can get away with a total cost of 30% on top of the base rate. In extreme cases (motoryachts in high taxed countries with big tips for the crew and cancelation insurance), you can more than double the base price. Most charters should be in between within the 40-80% on top of base fee range.

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How Much Does It Cost to Charter a Yacht? (Updated Prices/Rates)

• September 20, 2023

Exploring the open waters on a private yacht offers unparalleled luxury and freedom. The cost of chartering a yacht varies based on factors like yacht size, destination, and duration. 

Beyond expenses, understanding the elements influencing pricing can help in making an informed decision for your dream yachting experience. Let’s unpack these prices in this guide!

How Much Does It Cost to Charter a Yacht?

Yacht rentals encompass a broad spectrum of starting prices. Thus, charters begin at around $10,000 weekly for compact sailboats and catamarans, while the pinnacle of opulence, motor superyachts, can exceed $150,000 weekly or more.

What Are the Two Types of Yacht Charter Price Structure?

In yachting, two crewed charter options exist: “All-Inclusive” and “Plus Expenses” experiences. What do these terms entail? Let’s take a brief look to understand them better:

All-Inclusive Yacht Charters

Certain charters, particularly those for catamarans and monohulls in the Virgin Islands, provide all-inclusive pricing. This covers guests, meals, drinks, water sports, and fuel expenses. However, dockage and taxes are typically billed separately from the main rate.

Plus Expenses Charters

Larger motor yacht rates don’t cover operating costs, which require separate payment. For upscale charters, the initial cost encompasses the yacht alone. Extra expenses like food, bar, fuel, dockage, and taxes are billed independently. 

Often, these costs are covered by an Advance Provisioning Allowance (APA), which typically is 35% of the base rate, paid before the charter starts.

What Are the Different Factors That Affect Yacht Charter Prices?

Embarking on a yacht charter voyage is an exciting endeavor that promises luxury, adventure, and the thrill of exploring open waters. As you set out to plan your dream yachting experience, it’s essential to understand the various elements that influence yacht charter prices. 

From the type and size of the yacht to the destination and duration of the charter, several key factors come into play, shaping the cost of your maritime escapade.

Yacht Type and Size

The type and size of the yacht you choose are fundamental determinants of the charter cost. Yachts come in various categories, including motor yachts, sailing yachts, catamarans, and monohulls, each offering distinct features and amenities. 

Motor yachts often offer more space, speed, and modern conveniences, which can contribute to higher charter rates. On the other hand, sailing yachts and catamarans provide a more traditional sailing experience and can be an appealing option for those seeking a more relaxed pace.

Destination and Itinerary

The geographical location you intend to explore significantly impacts the charter price. Popular yachting destinations like the Mediterranean, Caribbean, and the South Pacific have varying demand levels throughout the year, influencing pricing accordingly. 

High-season periods, characterized by pleasant weather and bustling tourism, can lead to higher rates, while off-peak seasons might offer more budget-friendly options. Moreover, some destinations require longer travel distances or involve additional permits and fees, all of which can contribute to the overall cost.

Charter Duration

The duration of your yacht charter plays a pivotal role in determining the final price. Charter rates are typically quoted every week, with options for shorter or longer durations available. 

Extended charters might offer more favorable rates per week compared to shorter getaways. Moreover, some yachts may have minimum charter durations during peak seasons, so it’s essential to consider your desired travel duration when budgeting for your yacht charter.

Time of Year

The time of year you plan your yacht charter adventure can significantly affect pricing. Yachting destinations experience high and low seasons, influenced by weather patterns, holidays, and local events. 

High-season periods, often coinciding with pleasant weather and vacation periods, tend to command premium prices due to increased demand. Alternatively, opting for an off-peak or shoulder season can result in more affordable charter rates while still enjoying a delightful yachting experience.

Yacht Amenities and Services

The onboard amenities and services provided by the yacht contribute to the overall charter cost. Yachts equipped with luxurious features such as spacious cabins, gourmet kitchens, Jacuzzis, water toys, and professional crews tend to have higher base rates. 

The quality of service, crew expertise, and additional offerings can elevate the charter experience but may also add to the total price.

Crew and Staff

The crew and staff onboard play a crucial role in enhancing your yacht charter journey. The size and expertise of the crew, including captain, chef, deckhands, and stewards, can impact the cost. 

A highly skilled and attentive crew can provide exceptional service, ensuring a memorable and comfortable experience throughout your charter. While these services contribute to the cost, they often contribute significantly to the overall enjoyment of your yachting adventure.

All-Inclusive Versus Plus Expenses

Yacht charters offer different pricing structures, with “All-Inclusive” and “Plus Expenses” options. All-inclusive charters encompass costs like food, drinks, water activities, and fuel in the base price, simplifying budgeting and planning. 

Conversely, Plus Expenses charters have a base rate covering the yacht alone, with additional costs for provisions, fuel, dockage, and other expenses. Understanding the pricing model that aligns with your preferences and needs is essential for accurate budgeting.

Running Expenses and Advance Provisioning Allowance (APA)

For larger motor yachts, operating costs are often separate from the base rate. These expenses encompass food, beverages, fuel, dockage, port taxes, and more. Typically covered by an Advance Provisioning Allowance (APA), which is around 35% of the base price, these costs are paid before the charter begins. 

This approach allows for flexibility in provisioning and ensures that operational expenses are adequately covered during the journey.

Additional Costs Considerations in Charting a Yacht

Embarking on a yacht charter promises a luxurious and unforgettable experience, but it’s essential to consider not only the base charter cost but also the additional expenses that may arise during your journey. 

Beyond the initial price, there are various factors and costs to keep in mind to ensure a seamless and well-budgeted yachting adventure.

Operational Expenses

While the base charter cost covers the yacht itself, operational expenses are often separate. These expenses encompass various aspects of the charter, including fuel, provisioning, dockage, port fees, and more. 

Depending on the charter type and destination, these operational costs can vary significantly. Understanding these expenses is crucial for accurate budgeting and to ensure that you have the necessary funds to cover them.

Advance Provisioning Allowance (APA)

For larger motor yachts, operational expenses are often covered by an Advance Provisioning Allowance (APA). This allowance, typically around 35% of the base charter price, is paid upfront before the charter begins. 

The APA serves as a fund that the crew uses to cover expenses throughout the journey, such as food, beverages, fuel, and other operational costs. Any remaining funds from the APA are usually returned to you at the end of the charter. 

Clear communication with the yacht’s crew regarding APA usage is essential to manage expenses effectively.

Crew Gratuity

While crew gratuity is discretionary, it’s customary to reward the hard work and exceptional service provided by the yacht’s crew. The recommended gratuity amount usually ranges from 10% to 20% of the base charter price. 

The gratuity is typically given to the captain, who then distributes it among the crew members. Expressing your appreciation for the crew’s efforts through gratuity ensures a positive rapport and acknowledges their dedication to making your charter experience memorable.

Food and Beverages

For charters that operate on a “Plus Expenses” basis, provisioning for meals and beverages is an important consideration. Discuss your culinary preferences and dietary restrictions with the yacht’s chef before the charter to ensure that your needs are met. 

The cost of food and beverages can vary based on your preferences, the number of guests, and the duration of the charter. Incorporating this aspect into your budgeting allows you to enjoy delectable meals without unexpected financial surprises.

Water Toys and Activities

Many yachts offer a range of water toys and recreational activities to enhance your charter experience. These can include jet skis, paddleboards, snorkeling gear, fishing equipment, and more. 

While these amenities provide entertainment and excitement, they may come with an additional cost. Inquire about the availability and pricing of water toys and activities in advance to plan for any desired experiences.

Berth and Port Fees

When visiting different ports and marinas during your charter, you may encounter berth and port fees. These fees are associated with mooring the yacht in specific locations and can vary depending on the destination and the amenities offered by the port. 

Being aware of these fees and including them in your budgeting ensures that you’re prepared for any unexpected costs that may arise during your journey.

What Are the Different Types of Yachts?

Embarking on a yacht charter opens up a world of luxury and adventure, with a range of yacht types to choose from. Each type offers unique features, amenities, and sailing experiences. 

Understanding the various types of yachts available can help you select the perfect vessel for your dream maritime journey.

Motor Yachts

Motor yachts are known for their speed, power, and luxurious features. These yachts are equipped with powerful engines that allow for swift and comfortable cruising. Motor yachts offer spacious interiors, state-of-the-art amenities, and ample deck space for relaxation and entertainment. 

With a focus on comfort and convenience, motor yachts are ideal for those who prioritize a smooth sailing experience and desire modern luxuries.

Sailing Yachts

Sailing yachts provide a classic and elegant way to explore the open waters. Driven by the wind, these yachts offer a serene and graceful sailing experience. Sailing enthusiasts often appreciate the traditional aspect of these vessels and the opportunity to engage in hands-on sailing. 

Sailing yachts come in various sizes, from smaller vessels perfect for intimate charters to larger yachts with multiple cabins for group travel.

Catamarans are characterized by their twin hulls, offering enhanced stability and spacious interiors [ 1 ]. These yachts are known for their comfort, especially when at anchor, and are popular choices for families and groups. 

Catamarans often have multiple cabins, spacious living areas, and outdoor lounging spaces, making them ideal for those seeking a relaxed and sociable charter experience.

Monohull yachts feature a single hull, offering a traditional and authentic sailing experience. These yachts are known for their graceful lines and timeless charm. While they may have slightly less interior space compared to catamarans, monohulls excel in their sailing performance and agility, making them a favorite among sailing purists who appreciate the art of navigating the waters under wind power.

Superyachts

Superyachts epitomize luxury and opulence. These massive vessels often exceed 100 feet in length and feature a plethora of amenities, including multiple decks, swimming pools, Jacuzzis, helipads, and more. 

Superyachts can accommodate larger groups and are often equipped with a crew to cater to every need. While the charter rates for superyachts are typically higher, the level of luxury and extravagance they offer is unmatched.

Expedition Yachts

Expedition yachts are designed for those seeking off-the-beaten-path adventures. These rugged vessels are equipped to explore remote destinations and endure challenging conditions. 

Expedition yachts combine the comforts of a luxury yacht with the capability to navigate through polar regions, remote islands, and exotic locales. If you’re an adventurer at heart, an expedition yacht can provide you with the opportunity to explore uncharted waters and experience the thrill of discovery.

Classic Yachts

Classic yachts evoke a sense of nostalgia and history. These yachts often have elegant lines, rich wooden interiors, and a timeless charm that harks back to a bygone era of yachting. 

While they may not boast the same modern amenities as newer yachts, their unique character and craftsmanship make them a favorite among those who appreciate the vintage allure of sailing.

Is Chartering a Yacht Worth It?

Chartering a yacht offers an unparalleled experience of luxury, freedom, and exploration on the open waters. The opportunity to tailor your journey, enjoy personalized service, and discover unique destinations makes yacht charters a remarkable investment in memorable experiences. 

While the cost can vary, the chance to escape the ordinary, indulge in stunning surroundings, and create lasting memories with friends or family often makes chartering a yacht well worth the investment for those seeking a truly extraordinary vacation.

In the world of yacht charters, costs vary based on factors like yacht type, destination, and services. Understanding these elements helps in budgeting and making informed decisions. Whether seeking relaxation or adventure, clear cost considerations lead to a tailored yachting experience within your means.

Noah Miller

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Once you confirm your reservation, your broker will process your payment.

• If you are booking for a single day and your reservation is confirmed more than 7 days in advance, a deposit of either $1,000 USD or 50% of the total cost of the reservation (whichever is greater) is processed immediately in order to hold the yacht. Once your embarkation date is 7 days away, the remainder of the amount due is processed.
• If you are booking for a single day and your reservation is made 7 days or less in advance, the total price of your reservation is processed immediately.
• If you are booking for a multi-day charter and your reservation is confirmed more than 30 days in advance, a deposit of 50% of the cost of the yacht is processed immediately in order to hold the yacht. Once your embarkation date is 30 days away, the other 50% is collected for the price of the yacht, plus the APA, plus the taxes due.

Terms of refunds are dictated by the Charter Agreement. Generally, once a payment is collected, it is non-refundable. In certain circumstances, as dictated by the Charter Agreement, credits can be provided so you will be able to enjoy your yacht charter at a future date that is convenient for you.

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A private yacht is an elegant and luxurious boat that will take you to new places, where you can spend only a few days, a week, or longer enjoying cocktails and tasting unique dishes prepared by the chef on board. The crew will be at your disposal to cater to all your food and drink needs and make your holiday unforgettable. Renting a yacht can help make your holiday an exclusive experience.

Yacht rentals give you endless options on what to do whether it is with your adventurous friend group or relaxed family. You may decide to go fishing with your boat rental and catch dinner for a delicious BBQ prepared by the chef on board! Water sports is another great option! Some yachts have inclusive rates for water sports such as snorkeling, paddle surfing, and additional costs for a dive scooter.

You can also rent a yacht for a day to celebrate a holiday onboard a perfect boat. Whether it is for a birthday party, family gathering, or even an anniversary. This is a perfect boat rental option for those who like to relax and move around in style!

How can I rent a yacht?

Checking out the yachts for rent has never been easier with Nautal´s website! Filter in features such as the dates you would like to travel, the destination or port, the number of people, the size, the services offered, and more. When you find a model that suits your needs, you can request a quote and contact the owner. You have the choice of renting a yacht daily or weekly giving you the freedom to choose how long and when to rent.

Yacht rental prices range depending on the features stated above as well as if it is high or low season and the type of yacht you choose. Depending on the owner´s offer there may also be different includes and additional costs.

Things such as water sports equipment, mooring fees, the cabin crew, and taxes are all costs that could be included or additional. Remember that the total number of occupants must include cabin crew and the capital! So ensure you choose a yacht that includes all members that will be staying on the boat.

 For smaller yachts, the price starts at 1,500 dollars per day and goes up to 500,000 dollars per week in the high season. There is also a security deposit that has to be paid at check-in which can start from $600.

What can I do if I rent a yacht?

By renting a yacht you can enjoy a holiday full of comfort and relaxation. If you enjoy a touch of luxury in your life then a luxury yacht charter is without a doubt the perfect holiday experience for you! Get your group together rent and indulge in world-class gourmet lunches and dinners, aperitifs, and parties. You can also relax and sunbathe on a soft mattress or use the equipment onboard and go scuba diving, snorkeling, surfing, and much more.

Look for yacht rentals near you, whether you want to go for mega yachts for rent or a small yacht charter there are many choices to suit your needs. You also have the choice of hiring a yacht for a day, which can be a great choice for an unforgettable experience with a crewed charter during the summer season.

This boat type offers a large range of different activities depending on your preference! Whether you choose to relax and use the deck to read books and practice photography or dive into the turquoise waters and enjoy some water sports. This is a great idea for a vacation yacht rental! Enjoy the water with water sports such as paddleboards, surfing, kayaking, and more on your yacht hire!

Discover your dream destination and more at secret and exciting spots throughout the day, before heading to the mainland in the evening and sitting down for a delicious dinner onboard prepared by the crew members. Get ready to celebrate to the beat of the music whilst indulging and sampling delicious cocktails!

If you rent a luxury yacht, you must look for a dedicated crewed yacht charter rental! This means you can be relaxing and enjoying your vacation to the maximum while someone takes care of cooking, beverages and sailing your private yacht rental.

Rent a yacht near you! Nautal has private yacht charters available around the world.

Who can I rent a yacht with?

You can rent a yacht and spend time with your family or group of friends onboard a luxury charter experience on the water. The choice is yours! Nautal offers many different sizes of yachts from 6 places up to 13 places.

Remember that the captain and crew members will also need to be counted within the total places! Check with the owner of the boat if you have any questions.

This is a perfect boat rental choice for families looking for a fun-filled and relaxing vacation where everyone is happy! A yacht charter may be ideal for family bonding and exploring the Mediterranean or the Caribbean ! It is also an amazing option for groups of friends who are looking to explore these areas, find remote beaches and snorkel through different marine species, specific to each destination!

Where can I rent a yacht?

Nautal charter yachts all around the world with many options available depending on your preferred destination, type of yacht, and what you would like to explore!

In Europe, there are many luxury yacht charters in many destinations. You may want to explore the beautiful scenery on the Italian  Amalfi Coast and stop by the town Sorrento which is known for its coastal walks and Limoncello! Or for our cuisine lovers, why not explore the French Riviera and stop by Nice´s flavorful Cours Saleya market or the blue waters of Cannes ? This market is open from Tuesdays to Saturdays and fills the square with amazing scents of the fruit, vegetables, and flowers sold at the stalls.

If you're looking for a good time and amazing food, get a yacht rental in one of the many boating destinations in Spain! There are many options in Barcelona  or Marbella for amazing nightlife and even better vibes. Or consider island hopping in Spain’s Balearic islands, and stop by destinations like Mallorca or Menorca .

In the Americas, we also offer a large selection of yacht charters in destinations such as Puerto Rico and the Dominican Republic in the Caribbean, Cancun in Mexico, and the Bahamas . There are endless possibilities if you choose to charter a yacht for a week or longer to explore different islands or even different areas within the same one!

Instead, if you are in the Bahamas it is worth noting that there are around 365 cays as well as breathtaking views such as the Tropic of Cancer Beach! If you are going to the Bahamas you may want to stop at Freeport in Grand Bahama and Shop at Port Lucaya Marketplace! This is a shopper's paradise with an open-air facility and white sandy beaches within walking distance for everyone to enjoy.

What are the most popular brands for a yacht charter?

Nautal´s boat owners offer a range of different yacht brands and models to rent. The three well-known yacht brands Nautal offers are Jeanneau, Beneteau, and Bavaria. Moreover, other brands include Silverton, Mangusta, Pershing, Baglietto, and more!

It is important to note however that most yachts are chosen for their quality and high spec conditions which make them so unique.

What should I consider when chartering a yacht?

You should first consider how long you want to charter a yacht for, the size, and what activities you and your group may enjoy doing. When renting a boat of this type, the size of the yacht is very important since this will determine how long the yacht charter can be. Most 25-meter (82 ft) yachts are chartered on a weekly basis. Shorter private charters are only available in last-minute bookings, or for smaller yachts that do offer daily charter rates. You can also charter yachts with a captain and crew, who take care of every detail to make your holiday an unforgettable experience. Crewed charter yachts allow you and your family or friends to fully enjoy and relax with your dream boat vacation. Check with the owner if the captain and crew are included in the yacht charter prices!

How much does a yacht rental cost?

Yacht rental prices vary depending on your luxury yacht charter choice. Features that make the price vary are the season, size of the yacht, manufacturer, and more! A yacht charter in the low season can cost anywhere from $1,500 a day and $10,000 per week. In high season yacht rental costs from $1,800 per day and $12,487 per week. The price will increase the more luxurious and extravagant you choose your yacht rental to be. For example, megayachts over 165 ft can cost $500,000 or more per week. A yacht charter cost can also have additional and inclusive rates. Depending on the owner´s boat rental offer, the skipper and crew can be included or be an additional cost. Just imagine your luxury yacht charter with delicious food and drinks for your whole family to enjoy. Each charter experience is different so speak to the owner of the boat for more information on what is included in the price and what type of yacht you are looking for.

Where to rent a yacht?

Nautal charters yachts all around the world with many options available on the Amalfi Coast, Mykonos , Costa Azul, Porto Cervo, and beautiful Ibiza . You can also charter a yacht in the Caribbean, Croatia , or Greece . You can spend your vacation on a yacht, celebrate your birthday, organize a party, and more! Check out our different yacht charter destinations!

What does a yacht charter rate include and what additional fees can I expect to pay?

For one-week megayacht charters, the price is usually given without Taxes. Taxes range significantly by destination and will vary if more than one country is visited. You will also need to pay for an estimated running of expenses paid by an Advance Provisioning Allowance, or APA. Expenses include fuel (the largest cost in yacht rentals), food and beverages, port fees, etc. APA typically accounts for between 25% and 35% of the charter price, and with it, the captain will pay all holiday expenses. Whatever is not used will be returned to the customer after the charter. Finally, you will need to consider the tip for the crew, which is a percentage of the rental price, approximately 10% in Europe and 15% in the US. This is highly recommended since a professional and trained crew has a direct impact on the success of the holidays.

Do I need a license to charter a yacht?

If you want to be the one who sails the yacht, you will need the Yachtmaster Ocean license or the equivalent, depending on the country. However, if you want to sail in luxury and comfort you can charter the yacht with a captain and crew. On the Nautal platform, yachts over 50 ft are chartered with a captain, except for some yacht charters located in Croatia. This is because the yachts are very expensive and the risk of damage for the owner is very high. Also during the high season, the yacht owners often cannot get them repaired easily without an advanced booking.

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Top 10 Boating Cities in Texas for Fall: Newly Released Data from Boatsetter

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Last Updated on August 27, 2024 by Boatsetter Team

As summer fades, Texas waters come alive in the crisp air of September and October, offering the most enjoyable boating and fishing experiences of the year. Whether cruising on Lake Austin or exploring the Gulf Coast, these top 10 boating cities, identified through exclusive Boatsetter data, prove that fall is the hidden gem of Texas boating. With cooler temperatures, vibrant autumn landscapes, and fewer crowds, there’s no better time to embark on an unforgettable aquatic adventure in the Lone Star State.

Our Methodology

This report leverages proprietary data from Boatsetter, the leading mobile app for boat rentals, charters, and on-water experiences, to showcase the top 10 boating cities for fall in Texas . Our data team analyzed booking trends on our platform from May 1 through August 1, highlighting average rental prices, most popular boat types, pre-booking for fall, and the unique attractions that make each city stand out. Only bookings with verified reviews and consistent activity were considered to ensure the accuracy of our insights.

Top 10 Cities in Texas for Autumn Boating & Fishing

• Average hourly rental price: $211
• Average total trip price: $996
• Most popular style of boat: Wake & Ski Boats

Austin’s Lake Travis and Lake Austin are prime destinations for boaters, especially in the fall. The cooler temperatures and picturesque scenery make it the perfect time to enjoy a pontoon boat outing. Whether you’re cruising past the iconic Pennybacker Bridge or anchoring at one of the many coves, Austin offers a boating experience that’s both lively and relaxing.

2. Little Elm (Lake Lewisville)

• Average hourly rental price: $116
• Average total trip price: $749
• Most popular style of boat: Pontoon

Lake Lewisville , located just outside of Dallas, is a fall favorite for its wide-open waters and peaceful atmosphere. The area’s vibrant autumn foliage adds a splash of color to your boating adventure. A pontoon boat is the best way to explore this expansive lake, offering plenty of space for a day of fishing, picnicking, or simply enjoying the serene surroundings.

3. Houston (Lake Conroe)

• Average hourly rental price: $99
• Average total trip price: $712

Lake Conroe is known for its calm waters and beautiful fall landscapes, making it an ideal spot for a pontoon boat outing. The lake’s proximity to Houston means you can easily escape the city for a day of relaxation and fun on the water. As the leaves change color, the lake transforms into a stunning backdrop for your boating experience.

• Average hourly rental price: $175
• Average total trip price: $678

The Dallas and Fort Worth area offers a variety of lakes, each with its own unique charm. In the fall, the cooler weather makes it a great time to explore these waters by pontoon boat. Whether you’re on Joe Pool Lake, Lake Ray Hubbard , or Eagle Mountain Lake , you’ll find plenty of spots to drop anchor and enjoy the scenic views.

5. Galveston

• Average hourly rental price: $155
• Average total trip price: $743
• Most popular style of boat: Deck Boat

The combined waters of Seabrook , Galveston , and Port Lavaca offer some of the best coastal fishing in Texas, with Matagorda Bay being a standout spot for redfish, speckled trout, and flounder. Renting or chartering a center console in this area allows you to explore both the Gulf of Mexico and the bay, providing diverse fishing opportunities. Whether you’re an experienced angler or a casual fisherman, these locations offer the perfect mix of relaxation and adventure.

6. San Antonio (Canyon Lake)

• Average hourly rental price: $152
• Average total trip price: $842

Canyon Lake , nestled less than an hour north from vibrant San Antonio, is often celebrated as the “Jewel of the Texas Hill Country.” With its clear blue waters, abundant bass, and stunning limestone cliffs, Canyon Lake becomes even more picturesque in the fall as the changing leaves add a splash of color. The cooler weather makes it the perfect time to rent a pontoon boat for a leisurely cruise or a relaxing day of fishing, all while soaking in the breathtaking autumn scenery.

7. Seabrook

• Average hourly rental price: $123
• Average total trip price: $688

Seabrook , located on Galveston Bay, offers a mix of fresh and saltwater boating experiences. The fall season brings cooler temperatures and calmer waters, making it a great time to take out a pontoon boat. Explore the bay, enjoy the local wildlife, or just relax and take in the scenic views of the Texas coast.

• Average hourly rental price: $81
• Average total trip price: $589

Waco’s rivers and lakes offer a peaceful retreat for boaters looking to escape the city. In the fall, the Brazos River and Lake Waco provide a serene setting for a pontoon boat outing. Enjoy the crisp autumn air and the vibrant colors of the season as you navigate these calm waters.

• Average hourly rental price: $73
• Average total trip price: $943
• Most popular style of boat: Wake & Ski Boat

Tyler , known as the “Rose Capital of America,” is surrounded by beautiful lakes perfect for boating. Lake Tyler and Lake Palestine offer excellent conditions for jet boating, especially in the fall when the weather is cooler, and the lakes are less crowded. The area’s stunning fall foliage adds an extra layer of beauty to your high-speed adventures.

10. Corpus Christi

• Average hourly rental price: $177
• Average total trip price: $735

Corpus Christi offers a unique mix of city life and coastal beauty, making it a top destination for boaters. The fall season brings cooler weather, making it the perfect time to explore Corpus Christi Bay on a pontoon boat. Whether you’re fishing, bird watching, or simply enjoying the coastal views, Corpus Christi offers a boating experience like no other.

Texas’s top 10 boating destinations offer a diverse and captivating array of experiences, from the tranquil lakes of the Hill Country to the dynamic waters of the Gulf Coast, primed for anglers. As the fall season unfolds, these cities transform into prime locations for boating enthusiasts seeking cooler weather, stunning autumn scenery, fishing hot spots, and a more relaxed atmosphere. Whether you’re after a peaceful day on the water or an exciting exploration of Texas’s vast aquatic landscapes, these destinations promise an exceptional boating experience that’s truly at its best in September and October.

Citing This Report

Media professionals are encouraged to use this data for reporting, with appropriate citation and a link to Boatsetter. For additional data, insights, or press inquiries, please contact Lacee Moon at [email protected] . Our team is happy to provide further analysis, quotes, and any other information needed for your story.

About Boatsetter: With thousands of vetted boat listings worldwide, Boatsetter is the leading marketplace for boat rentals and on-the-water experiences. From pontoons to yachts, for lake days or weekend getaways, guests can find a boat for any occasion. Many guests book a boat with a USCG-certified captain or an expert guide, to explore the waterways with ease. Credited with pioneering the first-ever peer-to-peer boat rental insurance policy, Boatsetter has empowered boat owners with the tools and support to become entrepreneurs on the water. Launched commercially in 2014, over one million boaters and boat owners alike have turned to Boatsetter to discover the endless possibilities the water provides.

Media Contacts: Lacee Rudd Communications Manager [email protected]

Boatsetter empowers people to explore with confidence by showing them a world of possibility on the water. Rent  a boat,  list  your boat, or become a  Boatsetter captain  today.

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Who Was on the Sunken Yacht? Tech Mogul Mike Lynch, His Family and Friends.

Mr. Lynch, the former chief executive of the software firm Autonomy, who was acquitted on fraud charges in June, was with friends and family when the yacht went down in a severe storm.

• Share full article

By Michael J. de la Merced

Michael de la Merced reported on Mike Lynch’s career and legal battles over the course of 13 years across two continents.

A cruise on the Mediterranean Sea aboard a superyacht was supposed to be a celebratory event for the British tech entrepreneur Mike Lynch , who was acquitted in June of fraud charges tied to the sale of his company, Autonomy, to the tech giant Hewlett-Packard.

Instead, it turned into a disaster after the yacht, a 180-foot boat called the Bayesian, sank off the coast of Sicily in a violent storm. Of the 22 people aboard, 15 were rescued and seven others died . Search operations ended on Friday after the final body was recovered from the site of the sunken yacht .

Here’s what we know about the passengers.

Mike Lynch and his family

Mr. Lynch, 59, is a British software entrepreneur who had once been described as his country’s Bill Gates. He founded the software firm Autonomy, which analyzed clients’ unorganized data, and turned it into one of the most prominent British technology companies of its time. He became a widely known corporate leader, who advised David Cameron, the British prime minister at the time, and joined the board of the BBC.

In 2011, Mr. Lynch sold Autonomy to Hewlett-Packard for $11 billion, which was far above its market value, earning him hundreds of millions. But HP investors almost immediately soured on the transaction, and the American tech giant quickly fired its chief executive — and then Mr. Lynch.

HP later accused Mr. Lynch of misleading it about the state of Autonomy’s business, setting off a decade-long legal ordeal for the British executive, who denied the accusations. U.S. prosecutors charged him and other executives with fraud, and Autonomy’s chief financial officer was convicted in 2018.

Despite appeals to the British government, Mr. Lynch was extradited to the United States last year and was confined to a townhouse in San Francisco ahead of his criminal trial, which began in March. Facing the possibility of decades in prison if convicted, Mr. Lynch and another colleague were instead acquitted of all charges.

An official in Palermo, Sicily’s capital, said on Thursday that Mr. Lynch’s body had been recovered. His wife, Angela Bacares, 57, accompanied him on the yacht, and she was rescued on Monday when it sank. She was a consistent presence at his trial in the United States. Records show that she controlled Revtom, the company listed as the owner of the Bayesian.

The body of Hannah Lynch , Mr. Lynch and Ms. Bacares’s 18-year-old daughter, was thought to be recovered on Friday.

The other guests

Jonathan Bloomer, 70, chair of Morgan Stanley’s international arm and the chairman of Hiscox, an insurance provider that trades on the London Stock Exchange, was on the yacht when it sank, along with his wife, Judy Bloomer, 71. Their bodies are thought to be among those recovered, but Italian authorities have not identified them.

Christopher J. Morvillo, 59, a New York-based partner at the international law firm Clifford Chance, was also on the yacht. A former federal prosecutor who comes from a family of prominent lawyers, Mr. Morvillo represented Mr. Lynch during his criminal trial in San Francisco. His wife, Neda, 57, was with him on the yacht. Their bodies are also assumed to be among those recovered.

“We are in shock and deeply saddened by this tragic incident,” a representative of Clifford Chance said in a statement.

Surviving passengers rescued from the yacht include Charlotte Golunski, a partner at Mr. Lynch’s venture firm, Invoke Capital; Ms. Golunski’s husband, James Emslie; and their one-year-old daughter Sophie. Also rescued were Ayla Ronald, a lawyer at Clifford Chance, and her partner, Matthew Fletcher.

The yacht had a crew of 10, and nine were rescued. The body of the chef, Recaldo Thomas, was recovered from the water, the Sicilian Civil Protection Department said.

Elisabetta Povoledo contributed reporting, and Kitty Bennett and Susan Campbell Beachy contributed research.

Michael J. de la Merced has covered global business and finance news for The Times since 2006. More about Michael J. de la Merced

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U.S. Justice Department sues RealPage, alleging it enabled price-fixing on rents

By Megan Cerullo

Edited By Anne Marie Lee

Updated on: August 23, 2024 / 7:59 PM EDT / CBS News

The Justice Department on Friday filed an antitrust lawsuit against RealPage, a property management software provider, alleging it enabled a collusion among landlords to inflate rents for millions of Americans. 

The complaint claims the Richardson, Texas-based company and its competitors engaged in a price-fixing scheme by sharing nonpublic, sensitive information, which RealPage's algorithmic pricing software used to generate pricing recommendations. The company replaced competition with rent coordination to the detriment of renters across the U.S., according to the suit, monopolizing the market through its revenue management software which was used by landlords to maximize rent costs. 

The DOJ is joined by the attorneys general of California, Colorado, Connecticut, Minnesota, North Carolina, Oregon, Tennessee and Washington. The complaint alleges that RealPage violated sections 1 and 2 of the Sherman Act, an antitrust law.

"Americans should not have to pay more in rent because a company has found a new way to scheme with landlords to break the law ," Attorney General Merrick B. Garland said in a statement Friday. "We allege that RealPage's pricing algorithm enables landlords to share confidential, competitively sensitive information and align their rents. Using software as the sharing mechanism does not immunize this scheme from Sherman Act liability, and the Justice Department will continue to aggressively enforce the antitrust laws and protect the American people from those who violate them."

Deputy Attorney General Lisa Monaco said RealPage violated a century-old law in a modern way, by using an AI-powered algorithm to coordinate rent prices, "undermining competition and fairness for consumers in the process."

"Training a machine to break the law is still breaking the law. Today's action makes clear that we will use all our legal tools to ensure accountability for technology-fueled anticompetitive conduct," she said in a statement. 

RealPage claims the allegations against the company are false, and insists that RealPage customers decide their own rent prices and can reject the algorithm's recommendations. The company added that it uses data responsibly. 

"RealPage's revenue management software is purposely built to be legally compliant, and we have a history of working constructively with the DOJ to show that," a spokesperson for the company said in a statement to CBS News. 

The lawsuit comes as Americans struggle to afford necessities from housing to groceries, with high housing costs contributing to persistent inflation.

"As Americans struggle to afford housing, RealPage is making it easier for landlords to coordinate to increase rents," said Assistant Attorney General Jonathan Kanter of the Justice Department's Antitrust Division. "Today, we filed an antitrust suit against RealPage to make housing more affordable for millions of people across the country. Competition – not RealPage – should determine what Americans pay to rent their homes."  

RealPage acknowledged that its product was designed to maximize profits for landlords, according to the suit, by describing it as "driving every possible opportunity to increase price."

A landlord praised RealPage's software, saying they liked it because the algorithm "uses proprietary data from other subscribers to suggest rents and term. That's classic price fixing..."

— CBS News' Robert Legare contributed reporting

• United States Department of Justice

Megan Cerullo is a New York-based reporter for CBS MoneyWatch covering small business, workplace, health care, consumer spending and personal finance topics. She regularly appears on CBS News 24/7 to discuss her reporting.

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