Borrow A Boat reports 400% growth
Boat rental marketplace Borrow A Boat says it is heading for “significant growth” in 2023, after posting a “record-breaking” year in 2022 and year-on-year revenue growth of over 400 per cent.
The firm, which currently offers access to more than 45,000 boats in over 65 countries, has expanded into several new countries in the last 12 months, including France, the United States, Canada, Australia, and New Zealand.
The acquisition of KellyBoat in Q3 of 2022 resulted in the launch of Borrow A Boat’s US office, initially focussed on boat hires in New England and Palm Beach. The firm says the rise of interest from the US has seen bookings across Europe. Greece and Croatia top the list. The strength of the dollar versus the euro has further fuelled the growth in clientele from the US that are looking to head to the Mediterranean for their boating vacations,
Simon Morgan, Founder of sister brand Helm.yt – the group’s premium charter division acquired by Borrow A Boat in 2021 – says: “2022 has been a huge year for us. We have successfully launched the Helm brand in America, where the curated marketplace really resonated. As a group we have quadrupled annual bookings while maintaining a high level of customer satisfaction.
“We are refreshing our websites and have some really ambitious plans for further growth and international expansion in 2023, as we continue to get even more people out on the water enjoying themselves.”
The firm says its 2023 objectives include further European expansion with the release of dedicated new country websites in the coming months.
