A joint statement sent to Monaco show organisers Informa by the 21 yacht builder members of the Superyacht Builders Association (SYBAss) and the 7 yacht brokers belonging to the Large Yacht Brokers Association (LYBRA) states that both organisations and their members – the elite of the industry – are withdrawing their support for the show which is due to take place from September 23-26.

The statement explains that the reasons for their decision given the current circumstances are as follows:

• The willingness of clients to attend will be greatly diminished and their safety compromised.
• The added uncertainty surrounding possible government actions and social distancing requirements.
• In the context of the pandemic, it would be inappropriate to hold an event which celebrates luxury and wealth.
• Deep resentment at the way the show has been run in recent years with increased costs not justifying the return on investment.
• The intransigence demonstrated by the show’s management and their unwillingness to enter into meaningful dialogue with exhibitors.

In their letter, SYBAS and LYBRA go on to express the opinion that Informa should cancel the show altogether this year rather than put on a poorly attended event which could adversely affect the reputation of the show and the superyacht industry in general.

In a move to reconcile the standoff both organisations expressed their interest in the form of a working group with Informa to see how the show could evolve in the future.