In an attempt to encourage superyacht activity along Chesapeake Bay, the largest estuary in the US, and bolster its local economies by increasing the presence of ultra-high-net-worth individuals (UHNWIs), a new organisation has been formed. The Mid-Atlantic Superyacht Marketing Committee (MASMC), which currently has 14 members spanning various sectors of the industry, will work hand-in-hand with the United States Superyacht Association (USSA) to invigorate the superyacht market in the area.
Under a previous Maryland law, it was deemed necessary for all yachts above 24m that wished to passage through Chesapeake Bay, to employ a licensed bay pilot. This law was amended in 2015 to allow pleasure boats of 61m and below, or with drafts less than 3.7m, to travel along the bay unaided. It is hoped that this amendment, along with the MASMC’s marketing involvement, will be the spark needed to galvanise superyachting in the area.
“We realised that there has never been a concentrated marketing approach for the [superyacht industry in the] Mid-Atlantic and Chesapeake Bay,” explains Jay Dayton of the USSA. “So a group of us got together and started working towards the image we wanted to present to the market.”
Through a variety of core marketing practices - boat shows, advertising and various other content streams, the MASMC hopes to reach key industry stakeholders and showcase all that Chesapeake Bay has to offer.
“We know that there are probably 3,200 boats that go North on the Atlantic and South on the Atlantic twice a year and we also know that our off season is beautiful. There is virtually five to six forgotten months in the superyacht calendar,” comments Eyre Baldwin, an MASMC member. “Beyond the urbanism of Washington DC and Baltimore we have the historical triangle, a phenomenal ecosystem, some world-class golf courses and a number of facilities equipped for superyachts.”