Ladies and gentlemen, welcome back to another S&P. You meet up. Happy Friday, your host, Albert, to bring you another exciting topic about luxury. And in this case, we're going to be switching from homes all the way to yachts.
And for that, we're going to have the CEO of Fraser Yachts. His name is Rafael Sol. And he's going to tell us why his company has become one of the world's leading full service yacht companies in the world. There he is.
Mummy! Rafael, how you doing? Hey, how you doing? Well, good.
Having a nice Friday? I mean, the Friday is amazing, but it's not even better that we have this conversation because now that I found out that not only you're a successful businessman that runs one of the world's leading yacht companies in the world, but you are also a super triathlete. I mean, it's a way of trying to be, you know, getting old as well. But doing this kind of things just keeps you young.
But you know, it's very difficult to find people that can manage, you know, running a successful business, a whole family, and on top of that, to do this ultra-racist. I mean, you and I were talking about how these Ironman races are so difficult to do and to keep both things aligned. So this is incredible. Congratulations.
Well, thank you, I know it's like everything in life, discipline, right? The C-P-N and motivation may be in business or in sports. As long as you have these two skills in between brackets, I guess they take you very fast. So obviously, you know, I'm not a champion, but I'm having a good time doing these races and trying to train amongst my business trips and meetings and running a company.
But hey, that's all about fun, you know, this is what love has to offer you. So you need to grab it. No, I think it's fantastic. I look, not only it's making you a good thing, but you're also inspiring those around you because, you know, I was actually having lunch a few hours ago with my brother, who also has four kids, runs a successful business.
And he did an Ironman for the first time with me last year. And I was like, man, that's way more credit than what I do because, you know, I don't have to get someone like yourself that not only is super successful in your particular field, which in this case is, yeah, it's a we'll talk more about it in a minute. But I just wanted to emphasize for people that are watching or listening to this, that you're like a Superman, you know, to do these things. It's incredible.
I'm not a Superman, you know, Superman's guys who are doctors or surgeon or these kind of guys are what I quote, super bad. We just having fun running by kids, swimming and running company and going crazy. You know, I'd rather spend my time with everybody else biking, swimming, than, you know, going in the evening to late in the bathroom, you know. And that sports keeps me on the right spot in direction, you know, and keep me focused.
This is what I do, you know, that's one of the reasons I do a lot of sports. I mean, in our lives because of the traveling and sometimes, you know, it can be stressful to run a company in a very competitive world, especially what we've been through the last year as well, you know, with dynamic and now the conflict and now all these gloom and doom about the recession. I think it's very important you keep your head up and you are able to get that breadth of fresh air. And I think sport gives you that.
And other things also, obviously, like reading, then, cinema, the music and spending time with people like you talking and exchange. No, I think that's fantastic. Thank you for saying that because I totally agree. But now tell us about yourself and about Fraser Yadi.
I mean, how has your company become one of the world's leading full service? That's from the world. Well, Fraser has been 75 years in the business. And actually we celebrate in our 75th anniversary this year.
And as you may know, you know, the famous Monaco Boc chur is around the corner starting next week. Yeah. So we all in a in a go mode, if you if you mess. And therefore, you know, we're going to be taking that opportunity to celebrate the anniversary.
We've been around, you know, our company, the founder was in California as a matter of fact. And he started selling small boats and became successful, opening a company in Florida, which became the hub for Yotein in the US, as you know. And on the other side, on our side of the phone in Europe, precisely in Monaco, a company also became rather successful doing Yotein in all around services. And they decided to acquire Fraser Yadi at the time, but kept an end for Fraser.
So we've been in the business. We kept on growing. After the initial funders, we were acquired by a company called Benetti, which is a shipbuilder, quite well we know. And then three years ago, we went back to American ownership.
We have a company called Marine Max, which is the largest boat retailer in the world. And they basically acquired Fraser. They saw the potential and have to say it was smart enough. They acquired us right before the big Yotein boom.
So they were very smart in doing that. And we've been very fortunate in all the building industry has been very busy to say the least. The last couple of years, the post-pandemic was, yeah, I mean, we saw people. This is when we realized people were just so eager to get out there, enjoy their life.
And the ones we said, I may go into a charter, I may buy a boat, but never did it because they thought, you know, that was a bit too expensive or that was this. So what I'd say, you know what, let's do this after what we went through. We must do this. And so this fled, of course, in our favor in grain, the company further.
We just opened now in the Fissing Greece. We have opened one in Qatar. We're going to probably open one in the Middle East again. We are growing again in America.
So yes, busy on all fronts. It's incredible what the industry has done in the last couple of years. Yeah, no, it's been, we saw an increase. I mean, last year, you were looking at almost 100% increase versus the previous year.
We have a demand for all services, not only to buy it, but also charter yet also for people who want to be managed, like we do. And all services were in Ironman. And obviously we have a little drop now this year in terms of the self, but the demand for charter is still extremely high. So I think there's a huge appetite for your thing, for the reason you mentioned.
Privacy is one. Also the five that you can travel from one from A to B to C without unpacking, unpacking, unpacking, unpacking, changing your passport. And one thing which is extremely important, the fact that you are together with your loved ones. And you really enjoy them and yourselves.
I mean, I used to represent a very rich man in Asia before I went into Fraser. And he used to tell me, you know what, why I love your team? I say, you know, the sea, the boat, we said, no, because this is the only place I can be with my family, enjoy them. You know, after a couple of days, everybody do the iPad, the iPhone, the Visa, that.
And then we all go around the table and discuss and go diving, jet skiing, whatever. And he said, this is heaven for me, you know. Tell us what's going on. Well, yeah, you know, for sure, when you buy a new yacht, that's wonderful.
This is the best time, right? I like when you buy a new car. But you know, if you go into the yacht industry, you think you're going to make a benefit or you're going to you're going to you're going to resale for an added value. This is the wrong approach.
You know, when you come into your thing, it is for your own enjoyment and your own life. And therefore, of course, you know, like anything, I had customer. So it's nice to buy. But when you buy your yacht, you need to keep in mind that you're going to have to run it and run in the yacht, customer.
But obviously, you've been doing this for so many years. So I think that you've seen it all. So tell me what's been, I guess the hardest thing ever being in this industry or what did you learn from it? Well, I think we've seen what we've seen the last been in the year in New York 10 years, if I include my previous experiences.
I mean, you see obviously a shift in what people do with the yacht. Where are they going and why they come into your thing? And I think one of the main shifts we've been seeing is the attraction for younger and younger generation to come into your thing. And that is really visible the last three, four years, you know?
If I take Fraser, for example, the average of our customers used to be 55 to 65 now, we're 45 to 55. So I think that's the main shift here where your thing now is able to attract younger generations, which the area again, it's a very positive sign for our industry. You're going to you have a client there, which you understand to your thing for quite some time. So that's one of the main shifts.
Obviously, that comes with new itineraries, more expeditions like your thing, people going more to river places. Not necessarily, you know, having the boat in front of one of the famous places in San Coppe, you still have these, though. But you see more and more people want you to go, you know, Antarctica, North Pole, you know, Asian, Yoteing, and now that obviously the world is slowly but truly reopening after the pandemic. People want to see this again happening.
The diversity of toys and bolts, so, you know, jet skis, parables, you name it, sea boat. So you see all these shifts, and when it comes to the yacht itself, obviously, you know, there's a big, big work done to make the yachts a bit more sustainable. So we see a lot of investment met for electricity battery pack on both yachts. So of course, a yacht will not be 100% green today.
It's going to take some time because, you know, a big yacht consume a lot, especially the air conditioning and all of this. So, but there as well, you see a lot of investment from the ship, you know, and also the owners to find the best solution to become more and more sustainable. So all of these are very interesting shifts. So some are more leisure related, some are more technical and mindset related.
And I think we're going to go to other direction where you're going to see more and more changes like this, you know. I mean, the yachts that we see nowadays is unbelievable. And obviously, for a lot of the boat show, we're going to definitely keep on seeing that because it's just incredible what technology and all these companies are putting together. It's incredible.
But I can ask you this because obviously me focusing on real estate and everything luxury related, now you start seeing all these floating houses, right? That they're considered boats, they're considered yachts, but they're a house. So what's your takeaway on these things? Well, I think it's a different world on ours.
It's a very good compromise between the houses and the between. You benefit from being somewhat at sea or on the water with the feeling of being at sea or on the water. You have also the structure of somewhat regular house, but obviously, you know, you're not going to be going to the bomber. So I think that's a good compromise.
And I have seen some of these houses in for a lot of the day, as a matter of fact. And some of them are super cool. Something very similar you find in Europe to some extent. And I think that's a good compromise.
And I think that's a good compromise. And some of them are super cool. Something very similar you find in Europe to some extent, you know, when they call the river peninsula, you know, this kind of a barge. Yes.
And it's similar in the concept, but very different in the way it's been built, because clearly what you see now in Florida and other places, these new floating houses are built like a house. You have the bedrooms, you have the layout. It's exactly. The house is floating.
But they're like breaking a bit of rules of like you can actually the short term rentals and everything because it's considered a boat, not a house. But anyway, that's a different topic. I definitely want to ask you this question because this is something that we ask every single one of our guests. And for you, what's the meaning of luxury?
Good question. I'm asking this question so often. For me, you know, what is the epitome of luxury? Time.
Ah, there we go. Especially why? Because there's only thing you cannot buy, right? True.
That's true. And therefore this is true luxury. And this is why when you have in an environment or in a place where you feel you completely have the time to enjoy yourself life, for me, that's the best. You know, I don't need to have the best car, the best, whatever.
If I have time to fulfill my dreams and enjoy myself, this is the key. This is the luxury. Pure luxury right there. Well, that and of course a good place to run to buy, get to swim, right?
Absolutely. But you know, to do all of this, you need to make time. Exactly. I was going to say because otherwise, especially a family is going to be like, oh my God, there he goes again to go for a three hour run or like nobody's.
You know, my wife is like, just go, go, go, go. You need to go. Go because they are exactly. It brings good benefits into your life.
Yeah. It's amazing to know you and obviously you are very incredible. Not only businessman but individual as a whole because you bring energy, you bring good energy, you bring good passion and you also bring excellent background with everything that you do, which is something that a lot of people find it so difficult to do these days, not to make sure to run a business but to do everything that you do on the side. So, yeah, you know, if you want to do it, you can do it.
Remember, you know, you know, you're a narrow man yourself. You know, nothing is impossible. Thank you so much. I know, we should the best of success.
We are a man and maybe we can catch up when I'm over in the boat show. Absolutely. Thank you for those that we're watching now or we'll watch this later. Make sure to follow Raphael and Fraser and, you know, all the best for everything that you have coming up.
And thanks again for everybody tuning in today. We hope you enjoyed it. And remember, embrace it beautiful, success in life. My name is Alvaro and I'll see you next time.