Tom George Yacht Group Cruises into Market Rebound
DUNEDIN, Fla., Sept. 30, 2015 /PRNewswire/ -- Much like the rest of the market, the luxury yacht industry shrank during the recession, and most boat manufacturers' production slowed to a trickle. While other yacht sales firms were worrying about their own survival, Tom George Yacht Group rapidly gained a loyal following by providing the highest level of service and care to their clients. As the economy healed and buyer sentiment improved, TGYG continued to grow and expanded to a beautiful new office at Marker 1 Marina in Dunedin.
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Following the move and reacting to demand from its ever growing clientele, founder Tom George said, "As the economy came out of recession we made some bold decisions acquiring new boat lines to better serve the needs of our clients. Now we are laser-focused on increasing global brand equity in TGYG and the boat lines we represent, all while introducing a new generation to life on the water. I have enjoyed watching clients grow into larger boats as their careers and lives change; it's gratifying to be there for them and provide them with the tools they need to enjoy the boating lifestyle."
TGYG also recently increased their portfolio in July 2015 by adding cutting edge brands Marquis and Carver Yachts to their West coast of Florida sales region. This is in addition to the legendary Hatteras Yachts line they acquired in 2014, the luxury runabout manufacturer Cobalt Boats and high tech fishing and sport utility brand Edgewater Boats.
"We love everything about yachts," George said, "but at the same time we comprehend that there is a high demand for top-quality vessels under 40ft. For the local Tampa Bay market we are aggressively ramping up marketing and events to elevate the Cobalt (20ft to 40ft) and Edgewater (15ft to 36ft) brands, which are the best-in-class in their particular segments."
During the 2008 market collapse numerous manufacturers around the world were shutting down, and it wasn't until around 2013 that boat manufacturing began to increase. According to the National Marine Manufacturer's Association (NMMA), the U.S. experienced a seven-eight percent increase in 2014 sales of new powerboats with continued growth of an additional five percent in 2015. Plus, there has been an increase in U.S.-based acquisitions of struggling European brands hit hard during the global recession in 2008. U.S.-based manufacturers are now breathing new life into historic European-acquired designs with enhanced technology with larger and more comfortable interiors. Plus, with the U.S. yacht market growing again, TGYG's sales have become largely domestic.
With regards to the new Marquis line, TGYG Partner Jimmy Rogers, a Certified Professional Yacht Broker (CPYB) said, "Some of the most aesthetically beautiful yachts historically have been Italian-designed, and Marquis Yachts are no different, having been dreamed up by famed Italian yacht designer Nuvolari-Leonard. Marquis took these beautiful designs and combined them with true American ingenuity, quality and craftsmanship, making Marquis Yachts a hybrid of Italian beauty and American construction—the best of both worlds. We are proud to say that all the brands we represent are manufactured in America with American ownership, keeping our jobs and hard earned money here at home."
Industry experts are stating the annual growth rate of the yacht market will remain above 20 percent over the next few years. Many opportunities exist for manufacturers, trading enterprises and service enterprises in the industry. Recreational boating retail expenditures (new and pre-owned boats, engines, trailers, accessories and services including fuel, repair, storage, insurance and taxes) are also expected to steadily increase upwards of five percent in 2015.
When George began TGYG, it consisted only of him and Rogers in an office together. With the help of their loyal clientele, though, TGYG's staff, sales and boat options have grown.
"We're not the biggest," Rogers said, "but we are the guys who will fight the hardest for our clients."
"TGYG is synonymous with top shelf customer service and strong retention in a highly competitive industry," George said. "We are truly dedicated to protecting the customer and their interests, providing them an enjoyable and hassle free yachting experience. We work hand-in-hand with our clients to ensure a smooth and worry free relationship."
TGYG will be exhibiting 15 boats at the upcoming Tampa Boat Show. The Cobalt M27, 336, R&WSS, R5 and 24SD as well as the EdgeWater 280CX, 245CC, 245CX, 240IS and 205CX will be shown inside the convention center. The Hatteras GT53, Marquis 660, Carver C40, EdgeWater 368 and Edgewater 318CC will all be shown in the water outside. The Boat Show will take place on Oct. 2-4 at the Tampa Convention Center.
For more information on Tom George Yacht Group, please call 727-734-8707 or visit www.tgyg.com.
For tickets and more information about the Tampa Boat Show, visit www.tampaboatshow.com.
SOURCE Tom George Yacht Group
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