Riviera sells 25 motor yachts in the US worth about $70m at the world’s largest boat show

The $9.5bn Australian motor yacht industry is still riding the pandemic wave with Gold Coast builder Riviera selling $70m worth of vessels at the world’s largest boat show in the US.

Motor yacht builder Riviera has returned from the world’s largest boat show notching up almost $70m in sales, as the Australian boat building sector continues to ride a post-Covid wave.

The Gold Coast-based company sold 25 motor yachts at the Fort Lauderdale International Boat Show.

The sales come with the US market recording the strongest international growth for the brand in the 12 months to June, with an increase in sales of nearly $15m. Riviera was one of the ­larger exhibitors at the show, which attracted more than 100,000 visitors.

Riviera owner Rodney Longhurst said the team was proud to be on the world stage.

Riviera’s new 58 Sports Motor Yacht which is worth $3.8m.

“Fort Lauderdale is a key marker for the luxury motor yacht industry and to welcome more than 25 (buyers) to our global family of owners is a wonderful recognition of the exceptional work of our 900-strong team,” Mr Longhurst said.

“Our 585 SUV was having her Americas premiere at the show, and was highly admired – a real drawcard, starring alongside 10 other motor yachts from our 39 to 78-foot collection.”

Riviera has built about 6000 motor yachts over the past 42 years and, to date, has built 144 vessels this year, aiming for 150 by the end of the year – a 50 per cent increase on its pre-pandemic production levels.

The sector experienced a period of exponential growth through the pandemic with high net wealth individuals reallocating their holiday budgets to buying luxury boats as international ­borders slammed shut, ruling out extravagant overseas trips.

In 2022-23, Riviera clocked up more than $300m in sales.

On board Riviera's new 58 Sports Motor Yacht.

Before Christmas, Riviera will reveal its newest model – the 58 Sports Motor Yacht, worth $3.8m.

Its innovative design features an all-water-sports cockpit, wide walk-around side decks, foredeck lounge and entertaining zone and all-weather alfresco deck that extends the living space of the luxurious saloon deck.

The accommodation deck offers an expansive master suite, with walk-in robe and breakfast bar, and two further guest staterooms and bathrooms. A laundry, utility or crew cabin and full stand-up engine room complete the vessel. Mr Longhurst said it was a “truly world-class luxury motor yacht”.

“This new 58 is the newest addition to our Sports Motor Yacht collection and is a magnificent yacht,” he said. “She will have her Americas premiere in February at the Miami International Boat Show in Florida.”

Riviera created its Sports Motor Yacht range in 2018, and there are now six models in the collection from 46 feet to 72 feet, including the new 58. The Gold Coast’s $1.3bn boatbuilding industry employs more than 4000 people directly, and many thousands more contractors and ­suppliers.