The 27th annual Yacht & Brokerage Show in Miami Beach wrapped up on Presidents Day following five days of blissful South Florida weather.
Thousands of people from around the world enjoyed the spectacular display of boats and marine products, including more than 500 new and brokerage yachts and a wide array of the latest marine technology and accessories valued at more than $1 billion.
In addition to displays, the show offered floating cocktail lounges, food and live musical entertainment.
Overall show attendance and the total number of boats on display were up 2 percent each from 2014. (Attendance figures for the free, open-to-the-public event are based on concession sales.)
The largest increase from 2014 was in the number of yachts on display in the 105-to-150-foot segment, which was up about 20 percent.
"We saw growth in several areas at this year's show," Show Management CEO Efrem "Skip" Zimbalist III said in a statement.
Active Interest Media owns show co-owner and manager Show Management and Soundings Trade Only.
"Many exhibitors reported significant sales over the five days of the show and expect to close additional contracts in the following weeks,” Zimbalist said. “As an industry, we believe that we will continue to see a rise in attendance and new exhibitor displays as the economy continues to improve and luxury condominium projects with marinas are developed and pre-sold in South Florida."
Because of growing demand to display boats larger than 150 feet, Show Management will open an additional location for the 2016 Yacht & Brokerage Show at the new marina project on Watson Island called Island Gardens Deep Harbour, across from the Perez Art Museum with views of the downtown Miami skyline.
When completed, the new superyacht marina will be able to accommodate an average of 50 yachts from 80 to 550 feet.
Flagstone Island Gardens LLC, developers of Island Gardens Deep Harbour, had a booth at this year's Yacht & Brokerage Show that drew a large amount of interest from show-goers.
"This year's show seemed to draw more qualified attendees than in past years, many who were eager to learn more about our project and our plans for participation in next year's Yacht & Brokerage Show," said Flagstone Property Group communications and branding president Bahar Bayraktar. "The show was a good experience, as always, with plenty of foot traffic."
The Yacht & Brokerage Show's original location on Collins Avenue in Miami Beach will remain as a show site for 2016 and beyond and will not be affected by the Miami International Boat Show's move to Virginia Key on Key Biscayne.
The Miami International Boat Show, produced by the National Marine Manufacturers Association, and the Yacht & Brokerage Show, produced by Show Management in cooperation with the Florida Yacht Brokers Association, are completely independent boat shows that annually occur on the same weekend.
Another Yacht & Brokerage Show indicator was notable gains in related hotel room nights. According to the show's official travel partner, BoatShowHotels.com, room nights saw an increase of more than 22 percent this year. Room-night revenue saw an increase of more than 27 percent, with revenue totaling more than $2 million at this year's show, up from $1.6 million in 2014.
The average length of stay per guest room was four nights.
Covering more than 1.2 million square feet of space, The Yacht & Brokerage Show in Miami Beach spanned more than a mile-long strip of the Indian Creek Waterway.