The 40th edition of the Cannes Yachting Festival (CYS) ended on a buoyant note, with many exhibitors telling IBI that it was the best show since before the global financial downturn. Capacity at the 41st edition in 2018 is expected to increase significantly after the organisers announced that they will conduct a study into the use of Port Pierre Canto for next year's event.
Most of the exhibitors that IBI spoke to this year were very pleased with the show and reported that business had been done or that they had a good number of leads to follow up post-CYS that would likely result in sales.
Sanlorenzo, for example, reported that they sold at least three of their new SX88 crossover model, which had its global debut at the show. Several other builders such as Sunseeker, Azimut, Beneteau and Ferretti spoke of sales but were hesitant to give numbers.
With strong winds during the show, many seas trials had to be cancelled. Some builders and dealers indicated that they would be holding trials after the show.
The general feeling from the show is that the European industry is on an upward path, building on the results of earlier shows in Dusseldorf and elsewhere. A number of key players such as Azimut-Benetti, Ferretti, Sanlorenzo, Sunseeker, Princess and Fairline were among several exhibitors announcing new investment plans.
At the brokerage part of the show, based at Port Canto, most of the brokers that IBI spoke to reported that they had received a good number of serious visitors interested in buying. Offers were reportedly made on several yachts in this part of CYF.
With some 600 boats in CYF 2017 and with requests to the organisers for more boats and yachts to be included, the organisers announced that they will be looking at how they might increase the space available for the show based on extending usage of the Port Canto side of the Cannes port. This could involve seeing the sailing craft move to Port Canto and the brokerage side moving to Vieux Port.