Family company Martimo is banking on the swell created by Gold Coast’s international boat show to launch its largest vessel – a 23m long ‘high-end apartment on water’.
A wave of multimillion-dollar deals will be struck on the weekend at the Sanctuary Cove International Boat Show on the Gold Coast where Maritimo will launch its much-anticipated Maritimo S75 Sedan motor yacht that will set a buyer back about $6m.
Celebrating the company’s 20th anniversary Maritimo managing director Tom Barry-Cotter, the son of founder and boat building legend Bill Barry-Cotter, said they have six vessels on display at the show.
“The Sanctuary Cove Boat Show is incredibly important for the Australian and New Zealand market,” he said.
“Being our home show it’s always where we have our new model launches, where we have the largest displays of the year and it’s great from a recruitment aspect as well.
“Pre-inquiry on the show secured record appointments which is really good to see in terms of the market which has softened since the Covid boating boom in 2021 and early 2022.”
Now in its 34th year, it is Australia’s largest boating showcase and in the four days to May 28 up to 50,000 patrons will cast their eyes over more than 600 boats and 1000 marine products from 330-plus exhibitors.
Last year bad weather affected the boat show but with clear skies forecast, the event this year could surpass the $250m in sales recorded in 2021 during the pandemic.
As well as Maritimo, among the premium brands taking prime position on the water for the 34th annual event are Axopar, Grand Banks, Horizon, Multihull Solutions, Ocean Alexander, Palm Beach, Princess, Riviera, Short Marine and Sundance.
Gold Coast-based Horizon Yacht Australia will feature eight vessels and will debut its largest superyacht – the five stateroom 38m-long RP125.
Maritimo Sedan S75 motor yacht.
The family-owned Maritimo will host more than 900 VIP guests at the official on-water display area.
Guests have come from around Australia, New Zealand and the US, with 15 per cent of them from South East Asian countries, Singapore, Thailand, Hong Kong and Japan.
Mr Barry-Cotter said the S75 Sedan has all the features needed for a state-of-the-art long range cruiser with living spaces resembling a “high end apartment on water”.
“The company has invested many hundreds of thousands of hours in the planning, development and pre-production of the S75,” he said.
“When you consider the evolution of Maritimo over the past 20 years you understand that the foundations for the development of the S75 really started back then.
“What better way to kick off our celebrations with the launch of our largest motor boat ever in what’s really been the strongest position the company’s been in its 20-year history.”
Maritimo forecasts a $100m turnover in 2022-23, up 25 per cent on the previous 12 months and expects another 25 per cent jump in revenue in 2023-24 before plateauing.
Australia and the US each account for 40 per cent of Maritimo’s sales, while the remaining 20 per cent is taken up by New Zealand buyers and a growing number from other countries.
The Sanctuary Cove Boat Show will feature a flotilla of Martimo vessels.
Early this year Maritimo secured dealer The Yacht Sales Co which will spearhead its multimillion-dollar expansion into Asia. The Yacht Sales Co as its exclusive dealer for Singapore, Malaysia, Philippines, Indonesia, Thailand and Hong Kong.
Also at the boat show, Gold Coast boat builder Riviera will launch its 19.5m Riviera 585 SUV which will cost $3.85m.
“It’s basically a private superyacht – you’ve got it all to yourself,” Riviera owner Rodney Longhurst said.
The motor yacht features an all-watersports cockpit, covered alfresco deck, luxurious saloon and galley, full beam master suite, two more guest staterooms and three bathrooms offering accommodation for up to six people; plus an optional laundry, utility room or crew cabin.
Riviera has built almost 6000 yachts over the past 42 years and the unveiling of the 585 SUV comes with the company on track to build about 150 vessels this year – a 50 per cent increase on its pre-pandemic production.
The Gold Coast’s $1.3bn boatbuilding industry employs more than 4000 people directly, and many thousands more contractors and suppliers.
The city has its own dedicated Marine TAFE Campus at Coomera.