GeorgeC1

I have been with TMM since purchasing my first Lagoon 42 (2016 model) at the Annapolis Boat Show in 2015. Sea Tiger entered the fleet and was doing better than projected until Irma. I had projected off seasons for typical hurricanes, but no one I know of projected the effects of Irma.

Unlike Jim, my boat survived Irma(with damage) and with assistance of TMM, was repaired fully in Florida before returning to BVI 7 months later, but the high season was already lost for all charters as there was little demand due to the devastation. My bookings increased and were doing better than anticipated, when COVID hit.... Irma was bad, COVID was worse!

My wife and I had already decided to order a Lagoon 46 (Sea Tiger 2) with another couple, and thus we sold SeaTiger 1 to a family who were planning on live aboard cruising.This was still in COVID.

So financially, Sea Tiger 1 was to say the least, worse than any pro forma I had considered.

Our Lagoon 46(2022 model) was at the Annapolis Boat Show, serving as TMM Charters display, and entered charter service immediately after the show. The bookings have been extremely strong, with my partner and I having a separate networks of friends who enjoy chartering, and thus charter "Direct from owner" which is part of TMM's business model. How will everything look financially at the end of 5 years? Barring another Irma or COVID event, the biggest determinant is the value of the boat upon exit. The well maintained boats of charter companies like TMM are most desired in the secondary market, but the market does have ups and downs which are hard to predict.

When comparing the various business models, one has to understand that if a particular company is stating that "we will cover all upkeep" then one must realize that cosmetic repairs and expensive repairs as boat nears end of contract will likely be deferred as all of this comes out of the company's profit. When Sea Tiger has a chip in gelcoat, TMM will repair it to the highest standards, as there is no financial dis-incentive to not do so (TMM charges the boat owner for the repairs. Their charges are fair). This keeps the boats in great condition during the 5 years, including at the end when owner either sells, or sails away.

Whether or not the charter is booked by TMM, a broker, or owner, the base staff is there for full support. Resume's are reviewed upon reserving and experience is required(some companies seem to require no experience as long as a credit card is on file). Personalized boat orientation, and a skipper check out. I hear nothing but great reviews of the superior support that charterers receive.

As owners we feel we are part of the TMM Family. We know most of the staff and details of their personal lives such as marriages and babies. Not infrequently, we will see staff on the islands or at boat shows, and we recognize each other and call each other by name, as we are indeed part of the TMM family.

When I heard TMM had invited Jim and Linda to bring Ocean Song in for repairs (vs giving recommendations), this re-confirmed what a great choice I had made by going with TMM.

Feel free to call, text or email.

Wes