While 2020 has been tough for the events industry, boat and yacht rental company, Flotespace, has experienced an incredible 400% growth in just three months, thanks to the rising number of Australians choosing to hold private events on its network of boats, yachts and catamarans.
The specialist online boat hire platform is thriving in what has been a difficult environment for many event-based businesses, thanks to its innovative model which provides boat owners with the opportunity to rent out their investment and making it easy for consumers to find Australia’s best boats for hire.
With many Australians forced to change the way they socialise due to restrictions brought on by COVID-19, an impressive 90% of Flotespace’s recent bookings have been made for private events, as boat-based gatherings can provide more space and flexibility.
What’s more, as Australia’s appetite for water-based events grows, customers are willing to spend big, with Flotespace seeing a 40% uplift in bookings for luxury boats, as well as the average daily booking price increasing by 39%.
The impressive growth rate is just the start. Flotespace Co-CEOs Hugh Treseder and Mike McKiernan have also raised $400,000 through private investors, with ambitious plans to continue to solidify its position as the number one boat booking site in Australia, with international expansion also on the horizon.
Hugh Treseder, Co-CEO of Flotespace, says, “Hiring a private boat is a great way to restore and reconnect in times of uncertainty. We’ve experienced a huge surge in bookings over the past few months as Australians look to come together, yet the social restrictions in place due to COVID-19 mean that it’s harder to organise a group event at an indoor venue, restaurant or bar.”
He continues, “That’s where we come in to play - people are realising that hiring a boat, catamaran or yacht is a more flexible option for group gatherings, as due to the size it’s often possible to accommodate more guests. Currently, the demand is outstripping the supply, as we constantly add new boats to the platform. It’s a really positive position to be in.”
Flotespace Co-CEO, Mike McKiernan, says that boat owners are also seizing the opportunity to join the platform. “We’re seeing savvy owners jump on the chance to maximise their investments by renting their boats on Flotespace. They remain in control of their prices, schedule and availability, and we take care of the rest, so it’s a reciprocal partnership that works both ways.”
For Sydney-based boat owner Todd Page, Flotespace has been a game-changer for his business. Since joining the marketplace, he has seen a 20% increase in sales for his luxury split level catamaran, Adelina, which holds up to 47 people.
He says, “Flotespace has been an incredible way to help grow my business, in what we were expecting to be a tougher year in terms of bookings. It couldn’t be further from that - sales for our luxury sailing catamaran Adelina have increased by a fifth so far this year, with many customers hiring specifically to host events such as wedding parties, corporate events, birthdays and group gatherings.”
For more information, please visit www.flotespace.com.