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With annual costs of operating a 180-foot vessel as high as $4.75 million ultra-high-net-worth individuals are turning to charters. (Photo: Bloomberg)

(Bloomberg) — Lounging in the Caribbean aboard a beautiful, 100-foot superyacht sounds pretty great, but it might be hard to relax when you have a hefty engine repair bill to pay and crew payroll paperwork to review. The annual cost of operating a 180-foot vessel is $4.75 million, or about 10% of the yacht’s original cost. With high maintenance costs in mind, ultra-high-net-worth individuals looking to explore the high seas are increasingly turning to charters.

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