The Newport Collection, which intended to showcase yachts alongside other luxury products in a new type of event in Newport, Rhode Island next year, has suspended plans.
The following statements were issued today:
Paul O’Reilly, CEO of Newport Harbor Corporation, producer of The Newport Collection: “We’ve made a very difficult decision to suspend The Newport Collection for June 2011. While we had a great deal of success within the yachting industry—we have already sold over half our available in-water space for the event—we have not been able to generate the necessary sponsorship commitments from the broader luxury markets. However, we continue to see the value in the concept of The Newport Collection.”
Bob Saxon, a chief architect of the Collection: “The boat show model—insofar as large yachts are concerned—is currently undergoing a tremendous makeover. The vision of The Newport Collection has helped pave the way. While suspension of the debut is a complex assessment, it’s critical that the final product accomplish what the industry and owners alike need. Given the significant input of The Newport Collection’s Founders and leading industry marketing executives, all are best served by introducing an experience that will succeed for years to come when the timing is right.”
Yacht builders ranging from Burger Boat Company to Trinity Yachts, Westport Shipyards, and the Ferretti Group had planned exhibit space.
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