Interview with the founder and CEO of World Yacht Group: manager, among others, of the Stella Maris, a boat only for those with deep pockets.
During the 32nd edition of MYBA Charter Show at Marina Port Vell, we interviewed Joan Plana Palao founder and CEO of World Yatcht Group a company that rents, sells and manages large luxury yachts. Among the yachts exhibited for the event, which is the most important dedicated to the rental of superyachts, the Stella Maris managed by WYG, of 72 meters in length and a crew of 19 people, stood out.
Stella Maris
The boat, designed for 12 guests to relax and enjoy everything imaginable on board, is priced according to the luxury and exclusivity it offers: between 700,000 and 750,000 euros per week. The Stella Maris is flagged in the Cayman Islands, although it is managed and operated by World Yacht Group (WYG), a Barcelona-based firm with offices in Ibiza, Los Angeles, Madrid, Cannes and Miami. At the helm of this company, its co-founder and CEO, Joan Plana Palao, answers these twelve questions.
Left Joan and Irena, co-founder of WYG Photo right Joan Plana Palao with the Stella Maris in the background
The first is almost logical: How does one manage a maritime company with so many legs and locations?
I always liked the sea. I had a vocation for the sector, I became a naval engineer at the nautical faculty of Barcelona and ended up being captain of several yachts of more than 30 meters based in different ports of the city. I liked the job, although I admit that I did not see myself spending the rest of my days sailing. With the learning process, the experience I had gained and the many contacts I had made, I said to myself “What if instead of taking charge of one boat I managed a larger and larger fleet? And so I started: after the financial crisis of 2008 we saw that those difficult times were also a good time to start a business in a very specific niche: an accommodation platform through which you could book cabins on yachts around the world.
An original proposal, no doubt. What happened with this project?
It was a success. Thanks to a very personalized service we were able to get boat owners and end customers to suggest that we aspire to greater heights and manage the boats directly ourselves. In this way we developed our business into what is today World Yacht Group, a worldwide company dedicated to the charter, sales and management of large yachts.
Stern of Stella Maris of the YWG Fleet
He got what he wanted, because…
The truth is that everything went quite well and we consolidated our position as a solvent and prestigious company. This is important in the sector: the shipowner trusts you with his boat, which is no small thing. In turn, the customer wants the best product. We as intermediaries or brokers, we make them a tailor-made suit, both for those who rent their property and for those who want to spend a unique vacation with family or friends for a week or two.
How does brokerage work then?
We are the intermediate point between the owner and the end customer. The owner has a superyacht in property and schedules the amount of time he thinks he will use it during a season, leaving free a number of weeks or months a year. That is when we can market it. In this market, in general, the rentals are by the week and the price is according to the type of yacht that is rented.
Stella Maris living room
Give me an example.
Well… our star boat is the Stella Maris. She is beautiful, 72 meters and built in Italy by Viareggio Super Yachts. We managed it comprehensively and even made the sale from the previous owner to the current owner in early 2022.
Sunset at Stella Maris dining room
Renting it for a week is between 700,000 and 750,000 euros. This is the base price, to which must be added a VAT of 20% and extras, which have a separate cost.
So, what concepts do we talk about under the heading of extras?
In this case, everything that would be variable is contemplated and it would be more or less 30% more on the charter price, such as fuel, taxes of the ports visited, meals and beverages that are scheduled and also tips to the crew.
One of the rooms at Stella Maris with bathtub and sauna
For 12 guests, the Stella Maris carries 19 crew members, which would be 20 if we include the helicopter pilot, which is also an option.
Having a helicopter on board sounds great.
Yes, it is. This boat is already very exclusive and it is even more so when the charterer wants to have a helicopter that can use the helipad at the stern: receive visitors, go on excursions, or go wherever you want from an anchorage. It is really very special and we are very proud of this superyacht.
Heliport of Stella Maris, the flagship of the YWG fleet
What about outside the Stella Maris?
Obviously there is more variety in our catalog: we deal with superyachts of other sizes. We manage the Stella Maris and 21 other yachts, a figure that is not bad at all and we also have 12 yachts in exclusive central agency that are for sale in different parts of the world, hence we have life established between different parts of the Mediterranean and the two coasts of the United States: Florida and California.
How in the world of cruising is the United States also a good market for superyachts?
True. There are good facilities, maritime culture and very interesting areas to sail, as well as a huge market of clients. With the Caribbean so close, there is a lot to offer and even the Bahamas, so close to Florida, has a lot to offer for those who want to enjoy a few days at sea aboard a large yacht and disconnect from everyday life.
And what is the position of the Mediterranean in this sector?
It is tremendously interesting. We have boats distributed in several areas that are in high demand. The Ibiza-Formentera duo continues to be one of the world’s great attractions, as well as Mallorca and Menorca, an island that is being discovered in recent times. It should not be forgotten that whoever rents such a boat sometimes repeats, although he always wants novelties and there are always some. Other areas such as the Greek islands, the French Riviera, northern Italy, Sardinia or Croatia also have a lot of pull.
What about you? Apart from being an entrepreneur and a broker, you are a sailor. Do you have any areas of weakness?
Well! Let’s see… there are many, many beautiful places to get to by sea, although if I get selective I will tell you two that I always recommend to my clients when they want something special and unique: one is Cavallo Island and the other, which is across the ocean is the Sea of Cortez.
Both names sound good…
And they are two beautiful places: Cavallo is in the Strait of Bonifacio, between the islands of Corsica and Sardinia. Close to the famous Costa Smeralda, yet far enough away to have a very special personality. There is only one hotel, which is a very authentic beauty: the Hôtel & Spa Des Pecheurs, a few small villas, bicycles and electric carts. Everything is perfect. If one thinks of a Mediterranean paradise, Cavallo is the image. The Sea of Cortez is the Gulf of California in northwestern Mexico, separating Baja California from the states of Sonora and Sinaloa. We could go on for hours talking about how wonderful this area is. Sailing there is one of the best experiences I have ever had in my life.
