It’s May 2014 during the Mini Maxi racing at Palma Vela and the soon to be co-founders of Beds on Board are heading in when a question is asked. It is a question many of you will have asked, or been asked, but it was the answer that was different. That answer was “beds”.

With statistics suggesting that boat owners spend less than 10% of their time onboard it was the question of vacancy that inspired Sir Peter Ogden and brothers Jason and Tim Ludlow to start a company that was part of the new and rapidly rising share economy, following on from the likes of Airbnb and Uber.

Beds on Board is a peer-to-peer marketplace that connects boat owners and accommodation seekers. There’s no chartering, boats cannot leave their mooring and, depending on the location, do not need any licensing or coding requirements. It is just accommodation, just beds on board.

Sir Peter is a former Managing Director of Morgan Stanley, founder of Computacenter and owner of the Mini Maxi yacht Jethou. Jason Ludlow is an RYA Yacht Master and former RNLI crew member who, along with Tim who recently left Google, have decades of sailing, hospitality and technology experience between them.

The idea is a simple one: most boats are empty most of the time and in some of the most desirable locations in the world. These same locations often struggle to offer accommodation to visitors, especially something that is a little bit different or simply more convenient.

As a peer-to-peer platform the service is equally simple: bedsonboard.com is the meeting point where boats, descriptions, reviews & ratings are shown and where the community sign up. The communication, decision-making and contract are all between the owner and guest directly.

A sense of trust and safety is essential and so the community is managed by users creating accounts with a verified email address and mobile number and there is a built-in messaging system so questions can be asked to make sure both parties are happy without any contact details being shared. There is further peace of mind for owners knowing that payment for the entire booking is taken as soon as they accept it (they have 48 hours to do so).

To list their boat an owner needs a safe and comfortable boat that has shore-side access, is compliant with all applicable laws and regulations and to inform their insurance company.

Accommodation only rentals have some great benefits for owners, the most obvious being to help offset the cost of ownership by earning some money from their vacant boat. That income may pay for a months mooring fees, an antifoul or a new set of sails. There are also benefits in not having the boat move. No engine hours are added, there is reduced risk of damage and maintenance costs and the owner is in complete control, setting their own prices and managing their calendar directly through the website.

Whether they want to take a last minute booking or plan for times when they know the boat is empty the calendar and the messaging system allow owners to make decisions that suit them.

Equally important for Beds on Board and for the wider marine industry is the belief that the service can help benefit the boating economy in general.

Owning a boat and being engaged and excited to use that boat are not always the same thing and part of Beds on Board’s vision is to help owners stay owners, as well as berth holders, and to help grow the boating economy.

Working with the British Marine Federation, it has become clear that, in the UK at least, the question of where future boat ownership is coming from is one that needs some attention. Beds on Board feel that opening the industry to short-let tourism is a key way to help.

Allowing city breakers, business travellers and families to stay on boats instead of a hotel or B&B can be the first step in becoming part of the boating community. They may sleep on a boat this year, charter next and then visit a boat show with a real understanding of the excitement and commitment of owning a boat and possibly become an owner.

And of course the benefits for guests are not just an introduction to a new and exciting lifestyle. Those using the service so far have reported how much they enjoyed the peace and quiet, the friendliness and feeling of community and of course the sunsets and open skies. There is a sense of wellness that hotels and spas spend millions trying to achieve that is fairly natural on a boat.

Price is another benefit for guests and has played a part in the positive feedback with most boats being very competitive when compared to local land accommodation, depending of course on what is on offer and the number of guests. Owners who can maximise these experiences to get great reviews will see return visitors who become more and more boat savvy and spend more money in the local economy.

On the subject of economies, there are other areas that Beds on Board have an interest. The simple idea is selling vacancy but that means owners may not be on hand to meet and greet guests as with more traditional short-term accommodation. Their philosophy is to let the local economy fill this gap by encouraging people who are likely already working in and around the marinas to support guests and owners. Cleaning, guardianage, maintenance and catering services will all benefit by increased customers and more frequent visits to the boats. Marinas too will have a wider audience for their retail and hospitality offerings as well as meeting potential future customers.

Underpinning these ideas of growing local and boating markets is the fact that the share economy is predicated by PwC to increase to almost €300 billion globally within just 10 years. Leading the way are companies such as Airbnb and Uber who without any physical assets have valuations in excess of $20 and $40 billion respectively.

With the full service only launched in May the Beds on Board community is growing everyday, fuelled by the company’s presence at international boat shows, trade marketing channels and some favourable global press.

Boat listings are focused in the Europe today but also spread as far as Antigua, Uruguay and India and with boats being added continually the growth and diversity is something that will make the service even more appealing to guests, who have started booking already.

The future for Beds on Board is to be at the convergence of these 3 economies and to be the go-to destination for global boat accommodation or, as they say, to be Another Way To Stay.

www.bedsonboard.com