Miami, with its endless beaches, vibrant nightlife, and warm climate, attracts tourists from all over the world. However, if you want to experience a sense of luxury and escape the hustle and bustle of the city, yacht rental is your perfect option. It’s an unforgettable experience that allows you to enjoy the beauty of Miami’s waters in an atmosphere of luxury and comfort. But how much does yacht rental cost in Miami in 2024?
What factors influence the cost?
Miami yacht rental prices can vary greatly depending on several factors such as the size of the yacht, duration of the rental, included services, and the season. Typically, prices start from a few hundred dollars per hour and can reach several thousand dollars per hour. Let’s consider some of the key factors influencing the cost of yacht rental in Miami.
1. Yacht Size
The size of the yacht plays a key role in determining its rental cost. In Miami, there is a wide range of yachts available in various sizes, allowing clients to choose the optimal option to meet their specific needs and budget.
According to the official classification of the United States Coast Guard, there are 4 classes of motorboats and yachts:
- Class A: motorboats less than 16′ (4.9m)
- Class 1: motorboats 16–26′ (4.9–7.9m)
- Class 2: motorboats 26–40′ (7.9–12.2m)
- Class 3: motorboats 40–65′ (12–20m)
All vessels exceeding a certain length are considered mega-yachts.
Since this article serves an introductory purpose, let’s simplify the classification:
- Small Motorboats and Yachts
These boats and yachts typically have a length of up to 30 feet and are designed for small groups or private parties. They can accommodate from 2 to 10 people depending on the size. The rental cost for such yachts usually starts at around $100 per hour. These boats and yachts are perfect for short trips along the coastline or for leisure activities lasting a few hours. - Medium-Sized Yachts
This is already a premium segment that includes yachts ranging from 30 to 70 feet in length. They can accommodate larger groups, providing more comfortable space for relaxation and entertainment. The rental cost for medium-sized yachts typically ranges from $200 to $1500 per hour. These yachts are perfect for extended luxury cruises along the coastline, entertaining parties, corporate events, or special celebrations. Take note of our magnificent Azimut 54′ – it’s an excellent offer! - Mega-Yachts
These yachts represent the epitome of luxury on the water. With lengths exceeding 70 feet, they are typically equipped with high-end amenities, including luxurious cabins, spacious decks for relaxation, swimming pools, jacuzzis, cinemas, and much more. The rental cost for mega-yachts in Miami can reach several thousand dollars per hour.
2. Year of Yacht Construction
The year of yacht construction is another factor that influences the rental cost. New yachts typically feature modern design, advanced technology, and top-notch amenities, which can increase their attractiveness to clients and consequently affect the rental price. However, older yachts, while they may have some wear and tear or less modern design, can be more affordable. Therefore, when choosing a yacht for rental, it’s important to consider not only the year of construction but also its condition, allowing you to balance your preferences with your budget.
3. Charter Duration
The cost of yacht rental is typically charged on an hourly basis. Offers in the market usually include 4-hour, 6-hour, and 8-hour charters. This flexible approach allows clients to choose the optimal duration of the charter according to their plans and budget.
In most cases, the longer the rental duration, the more advantageous the hourly rate becomes. For example, the rental cost of the Azimut 54′ yacht at Miami Royal Vacation for 4 hours starts at $2,345, whereas an 8-hour rental is offered at a significant discount, starting from $3,456, making the hourly rental cost more attractive. This allows our clients to enjoy more time on the water, see more sights, and ultimately save money.
Miami Royal Vacation and some other companies also offer even more substantial discounts for rentals of several days or weeks. This can be an attractive option for those planning an extended yacht vacation or special events such as weddings, corporate meetings, or charter trips, for example, to the Bahamas.
4. Seasonality
Seasonality also affects yacht rental prices in Miami. During the peak tourist season, typically from February to July, prices tend to be higher. This time of year is characterized by favorable weather and numerous events in South Florida, attracting many tourists and vacationers. As a result, there is a significant increase in demand for yacht rentals, which leads to higher prices.
On the other hand, during quieter periods such as autumn and early winter, yacht rental prices may be more affordable. Lower tourist traffic and fewer mass events can reduce the demand for yacht rentals, resulting in more favorable prices and special offers.
Additionally, holidays and special events also impact rental prices. On certain days of the year, such as Christmas, New Year’s Day, Valentine’s Day, or Independence Day, demand for yacht rentals can be particularly high. Consequently, yacht rental companies may raise prices during these holiday periods, sometimes even doubling or more.
If you’re looking to save money, it’s advisable to plan your yacht rental in Miami in advance, considering both seasonal fluctuations and holiday periods to choose the optimal time and avoid unexpected expenses.
Furthermore, when planning a yacht rental in Miami, it’s important to consider weather conditions. While Miami generally enjoys a warm and sunny climate year-round, some seasons may be more prone to variable weather, such as periods of seasonal rains or potential tropical storms.
5. Additional Services
Some yacht rental companies include additional services in the rental cost, such as onboard chefs, bartenders, massage therapists, water sports, and more. These services may incur additional charges, so be sure to inquire about their availability and cost in advance to avoid any unpleasant surprises.
Miami Royal Vacation always adheres to a policy of crystal-clear pricing.
Miami Yacht Rentals Prices
We conducted a small study and analyzed offers on a popular yacht rental brokerage service. All prices mentioned are current as of the beginning of 2024.
Small Motorboats and Yachts up to 30 Feet
The rental cost for small motorboats and yachts up to 30 feet ranges from $55 to $231 per hour for an 8-hour rental. Out of 117 offers, only 2.56% have a cost exceeding $200 per hour, 24.78% have a cost below $100 per hour, while the majority, namely 72.65%, fall within the range of $100 to $200 per hour.
Medium-Sized Yachts up to 70 Feet and Mega-Yachts
The rental cost for medium-sized yachts from 30 to 70 feet and mega-yachts ranges from $108 to $3,000 for an 8-hour rental. 58.74% of the offers are available for less than $400 per hour, 22.09% are priced between $400 and $700 per hour, 9.95% are between $700 and $1,000 per hour, and 9.22% are over $1,000 per hour, with this higher price segment mainly represented by mega-yachts.
Please note that in both cases, the mentioned prices do not include captain’s fees, additional onboard services, brokerage service fees, and taxes. We will not consider additional services but will add captain’s fees, brokerage service fees, and taxes to the existing prices, adjusting for the fact that the yacht is rented for 6 hours instead of the full day, and rounding the result.
As a result, we will obtain an average rental cost for a small motorboat or yacht up to 30 feet ranging from $200 to $400 per hour. The rental cost for a medium-sized yacht up to 70 feet falls in the range of $500 to $800 per hour, while mega-yachts are priced at over $1,000 per hour.
Regardless of your budget, you can find a yacht in Miami that suits you perfectly. Whether it’s a luxurious journey on a mega-yacht or a relaxing cruise on a cozy boat, yacht rental in Miami will be an unforgettable adventure on the waters of South Florida.
