A Yachting Track is available for all students enrolled in the MSc Luxury Management Program!
Yachting is a difficult industry to break into without experience. Being a niche industry and fairly unknown until recently, it has been overlooked by mainstream academia. While training for jobs at sea is available, there is a scarcity of professional training for jobs on-land.
The International University of Monaco is set to change this. For the Academic Year 2016-2017, the university launched a Yachting Track. This 15-hour yachting familiarization course is available for all students enrolled in the MSc Luxury Management Program. Students wishing to gain further insight could sign up for the 30-hour elective course in the second Semester.
“We set up the Yachting Track to familiarize students with the complex structure and dynamics of the industry and to give a leading start to those looking for a career in sales or marketing in yachting” says Sophie De Lorenzo, Director of Corporate Relations, the driving force behind the project implementation.
While not career specific to a particular area of business, the program explores key areas from charter and sales, to fiscal, regulatory and contractual issues and client management.
The elective “Yachting Track” is built around a new construction project with specific client requirements in mind. Each module explores a key link in the new construction “value chain” as well as the players and the skills required.
As Owner’s representative, the students are tasked with presenting a report highlighting the milestones and criticalities in the new construction process including criteria for selecting a broker, a yard, registration, and relating contractual, legal and fiscal issues integral to yacht ownership.
A number of industry professionals took part in the project that was designed and coordinated by Penny Hammond-Smith, SOS Yachting. Stuart Larsen and Vassilis Fotilas for brokerage, John Brining, Captain of M/Y Ulysses, Espen Oino for Design, Edouard Mousigny for Contracts, Tove Johnson for Charter, Thierry Voisin for Fiscal and yacht ownership issues, Cristian Schwarzwälder for the shipyard and Peter Murrey Kerr for Marinas and Operations.
At the end of their academic year in June, the students will be well aware of the challenges, trends, and opportunities in the industry. The project has been a success and will be further developed in the next academic year.
Interested in our MSc in Luxury Management program or our Yachting Track, please visit our website
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