The aviation and shipping industries suffered as a result of the COVID-19 pandemic outbreak. This is explained by how quickly the affected countries closed their borders, restricted travel, and further saw a sharp decline in economic activity. Despite having to negotiate treacherous waters and overcome these obstacles, Xclusive Yachts was able to regroup during those challenging days and eventually grew to dominate the luxury yacht market.
Amit Patel, managing director and founder of Xclusive Yachts, made brilliant strides for his company right from its inception, making it a pioneer in yacht chartering. With its excellent yacht crew and experienced guest relations team, Xclusive Yachts is the only five-star yacht charter company in the United Arab Emirates that offers an opulent experience on board.
Amit Patel is redefining the yacht rental Dubai sector by raising the bar in every respect.
"We started off with luxury private yacht rentals but today are making major strides in the boating industry. With our Xclusive Boat Club (The membership platform) and Xclusive Sea School (The Certified learning institute), Xclusive Yachts is striving ahead to not just grow in business but bring about an exponential change in people's lifestyle," states Amit Patel.
So how did Xclusive Yachts grow exponentially to dominate its niche?
Whether it's a brand new firm in a niche or competitive market, it's essential to stand out from the crowd to attract customers. To achieve this, business owners like Amit firstly identified a certain market niche that served and defined their marketing tactics, further suiting its demographics.
Enhanced customer experience and performance qualities
Prioritizing the customers has never been more crucial. It is evolving into the new standard for businesses. According to Forbes, "Today's business yardstick is customer experience." At Xclusive Yachts, a customer's experience is an emotion rather than an action. Every interaction is seen as a chance to get better. Therefore, it is crucial for us to keep any positive feelings alive and to work constantly for further improvement.
Catering to specific needs
Right from its inception, Xclusive Yachts concentrated on meeting the expectations of its clientele. From emphasizing the design of entertaining rooms to making it easier to hire superyachts on a short-term basis, it has catered to the flexibility of its customers to drive boats, explore and experience the sea without any strings attached.
Understanding the Middle Eastern coastline
A key element for any business to succeed requires a deep knowledge of its long-standing coastline relationship. Its Captains and crew members are well trained and have in-depth knowledge of the surrounding cruising area, enabling its visitors to take in all the best sights along Dubai's renowned coastline.
Focus on safety
Xclusive Yachts takes safety on board very seriously. It is crucial for its customers to feel safe and at ease while traveling. Its captains and crew are all well trained and possess the necessary internationally recognized credentials. These boats are in compliance with regional marine regulatory organizations and are prepared for the majority of scenarios, regardless of the fact that Gulf waters are usually mild and calm.
Newer Concepts Making it all Affordable
The perception of boating has drastically changed over the past 15 years since it first began operating. Owning a boat was the main focus earlier. The pinnacle of achievement and luxury, however, there has been a change in user behavior due to the expenses, rules, and maintenance required. As a result, the Xclusive Boat Club division was introduced. The Boat Club Membership gives boating enthusiasts access to 50+ boats, ranging from cabin cruisers to fishing boats, at a reasonable cost. Another concept, "The Xclusive Sea School, a Certified learning institute for those who want to become certified boat drivers, was recently introduced.
The Bottom Line- The Way Ahead
Due to the thriving tourism industry, rising disposable income, and growing interest in recreational and leisure activities, there has been substantial growth in the demand for yacht charters over the past few years. According to recent reports, the market size for luxury yachts was estimated to be $5.8 billion in 2020 and is anticipated to grow to $12.8 billion by 2031, with a CAGR of 8.0% from 2022 to 2031. With this in focus, Xclusive Vessels intends to use strategies including partnering, investing in further modernizing its yachts, and merging with other businesses in order to increase its market share.