A “category of one” is how Larry Pimentel, CEO, describes
Four Seasons Yachts, which will launch its first vessel in 2025, with one more
to come in 2026 and an option for a third. The product, he said, is neither a
cruise ship nor a yacht but a new kind of hybrid that is in a class by itself
because of its quality, the sheer space per passenger and the fact that it is
backed by one of the world’s most recognized luxury brands.
It’s an understatement to say Pimentel is a well-known
figure in the cruise industry. He has served as CEO of Azamara, SeaDream Yacht
Club, Cunard and Seabourn and told TravelPulse that he came out of retirement
“for the third time” because of this unusual opportunity.
With all his experience, said Pimentel, this venture is
different. He said he was asked to help build a seagoing vessel that
represented the quality and style of a Four Seasons hotel. It was not to look
like a cruise ship because Four Seasons did not want to be in the cruise
business.
The first yacht will depart in November 2025 out of Florida
and the second in November 2026. Sailings will average seven days because, said
Pimentel, many passengers will be entrepreneurs who don’t have much time;
however, back-to-back sailings will be available. The first winter and spring
will take the yacht to the Caribbean before it heads to the Mediterranean for
sailing on the French and Italian Rivieras, the Adriatic coastline and the
Greek Isles.
The company’s founders, said Pimentel, went to designers,
engineers and naval architects and told them to connect yachts like the
Christina O of Jacqueline Kennedy Onassis’s husband, Aristotle Onassis, to the
elegance, style, cutting edge technology and “cool” of a James Bond movie. The
result is a level of luxury, said Pimentel, that has not been seen with a cost
of $4.3 million per stateroom against an industry average of $850,000.
Guests will see the same standards they see in the most
luxurious hotels, said Pimentel – the finest materials and textiles, and
bathrooms much larger than have been built at sea. There is more space per
person than on any ship in the market. “The space is stunning,” said Pimentel –
with the yachts carrying only 190 guests (in 95 cabins) on a 34,000-ton vessel
with 14 decks.
While Four Seasons has equity in the project, said Pimentel,
the yachts will be majority-owned by Marc-Henry Cruise Holdings, an enterprise
headed by Philip Levine, an entrepreneur and two-time mayor of Miami Beach, and
Nadim Ashi, who has extensive real estate holdings, including the future Four
Seasons hotel in Rome. The company is named after their respective first
children.
While Marc-Henry is responsible for the marine and
technology elements of the fleet, Four Seasons is the “hotel operator,”
responsible for the onboard experience and shore excursions. This is quite
different from a licensing agreement, said Pimentel. The crew and staff are
Four Seasons-trained – with the hotel operator’s chefs, general managers and
other specialists handling the onboard experience and shore excursions.
Four Seasons has appointed veteran cruise executive Damien
O’Connor to manage the vessel’s hotel operations and land excursions as senior
vice president, yacht operations. He has held executive roles with Celebrity
and Silversea.
His own portfolio, said Pimentel, includes marine, technical, sales, marketing, partnership deals and revenue management. The two parties (Four Seasons and Marc-Henry) work together as a joint venture.
While he is president of Marc-Henry and responsible for
leading the project, it’s Four Seasons’ brand that is uppermost, said Pimentel.
He recalled that when Isadore Sharp created Four Seasons, he made guests the
focal point of the product, with service as the key differentiator – not a
common approach at the time. That has brought guests back ever since to the
rare hotel brand that does not offer a loyalty program and does not have
“sub-brands.”
The goal is not to call at as many ports as possible, said
Pimentel; it’s about being “absorbed and enriched.” The Earth is three-quarters
water, said Pimentel, so there are lots of places to visit. “We’ll do a lot of
exploration, and as we add to the fleet, we will add more.” Shore excursions
are in the design phase, he said, but with Four Seasons designing them, they
will be very different from the traditional model.
The vessels will have some of the first “limo tenders” in
the market, allowing up to 10 guests to explore on their own with their driver.
All told, the staff ratio will be 1:1.
And the accommodations are without parallel, said Pimentel.
Research on potential customers, he said, revealed that some passengers would
be bringing their own staff. As a result, there are staff accommodations with
separate doors.
The research also showed, said Pimentel, that 25-30% of the
company’s business will comprise full-ship charters. He said that even private
yacht owners would be chartering the ships because their own vessels are too
small for occasions like milestone birthdays.
The centerpiece of each ship -- the Funnel Suite -- will be
four levels, offering more than 9,500 square feet of combined indoor/outdoor
living space, including a private wading pool and dedicated private spa area,
creating a sea-view home away from home.
Each suite on the vessel features extensive terrace decks
ranging from 100 square feet for the deluxe suite, to nearly 5,000 square feet
for the Funnel Suite.
One challenge, said Pimentel, is that there will be such
limited inventory because of the long history of Four Seasons and its large
database of loyal customers. As a result, a different kind of distribution
channel has been developed that is based on an invitation-only process. Loyal
Four Seasons hotel customers have been given the first chance to sign up for a
priority access “option,” which costs $10,000. That gives them the right,
beginning in January, to select a voyage – which will cost $2,500 - $3,500 a
night per person.
The $10,000 is refundable except for a 3% fee to cover
credit card fees. If customers don’t book within 18 months, they can apply that
3% to a future voyage, so there is little risk. There is also a waitlist at
www.fourseasonsyachts.com that is open to anyone who did not receive an
invitation. Travel advisors are part of this process, and Pimentel adds that
employing a trusted, qualified travel advisor “is a very good idea; I consider
them in the same category as financial advisors.”
“We have a client driven and travel advisor focused
approach,” said Pimentel, which allows a client to add an accredited travel
advisor to manage their option and booking on their behalf. “We are working
hard to balance direct marketing and embracing the fact that high net worth
clients use travel professionals, and we welcome that,” he said.
The booking preferences of clients will always be respected,
said Pimentel, and ”if they prefer, we encourage them to add their travel
advisor to their booking.” With a commission of 10%, said Pimentel, “we
acknowledge the importance of qualified, trusted travel professionals in our
distribution approach, particularly as the Four Seasons Yacht experience is so
special.”
When they are ready to book, said Pimentel, buyers will deal
with representatives who are “extraordinary people who are very high level.” He
said, “they will be talking to our most precious asset – our guests.” These
yacht concierges, said Pimentel, will be the highest-paid people in shipping in
the world and are, in effect, consultants and personal advisors. There is no
toll-free number.
With all the demand, the marketing of Four Seasons Yachts is
subtle. Pimentel calls it a “whisper campaign.” He and other executives are
visiting Four Seasons residences – privately owned homes operated by the
company -- to talk to owners about the new venture. There will be no splashy
ads, he said, because they won’t be necessary.
“I know something about affluent travelers,” said Pimentel;
“they are very philanthropic and very social. They gather and talk about the
unique things they’re doing. If you serve them well, they will be your best
apostles.”
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