Over the last few weeks the entire team at Travelopia Yachts have been focused on the safety and well-being of our employees and our customers. With all The Moorings and Sunsail destinations around the world now inaccessible to our charter customers and owners, either due to entry restrictions or as a result of our main source markets in North America and Europe advising against travel, our charter business, in common with many businesses around the world, is going through challenging times.
We have already taken significant measures to mitigate the commercial impact that the corona virus is having on our business. These measures impact across the breadth of our business, whether it is temporarily closing bases for a period of time or for example delaying the opening of our Mediterranean bases. As you would expect, we have also had to take some difficult decisions with regards to pausing some of our projects, reducing our marketing activity and encouraging our teams to take additional leave in this time of reduced activity.
We are a strong business that forms part of the world’s leading group of specialist travel businesses -Travelopia (www.travelopia.com); a group that includes great travel companies such as the private jets business TCS and the leader in polar adventures, Quark Expeditions . Moreover Travelopia is owned, and has the full support, of one of the world’s largest private equity groups in KKR (www.kkr.com). The safety of our customers extends not only to their physical health and well-being while on holiday with The Moorings and Sunsail, but also to the assurance that they are financially safe with our Company.
This is particularly important to our yacht owners, who can have the assurance that their yachts will continue to be well maintained and insured. Our yacht buyers that are waiting for the delivery of their new or used boat, can also be assured that their deposits are secure and their boat is being built as planned. The Moorings and Sunsail owners can attest to the fact that after hurricanes Irma and Dorian, after the financial crisis of 2008, and after the 9/11 our owners continued to receive their revenues even though their boats could have been damaged and under repair.
The Moorings and Sunsail pride themselves on their commitment to honoring their contractual obligations, and we would like to think that being part of a large Group like Travelopia, backed by one of the largest private equity firms in the world, The Moorings and Sunsail customer can feel safe in these uncertain and difficult times.
This crisis is deeply unsettling but it is not permanent, and Travelopia Yachts will come out of this crisis and hopefully in an even stronger position. We are currently offering attractive offers, especially on yachts that the Company holds in inventory. We encourage you to consider some of The Moorings, Sunsail and Leopard Catamarans offers, either to own a boat in our charter fleet for the next five years, or the purchase a new Leopard catamaran, or even a used boat; these offers are exceptional. Once this crisis is over, we are looking forward to being there to continue to offer exceptional experiences on the water, either as a charter customer, or a yacht owner.