Entrepreneur invokes dollars from `ghost ship'
When Yhoshi Corp. president David Durham first looked at the Bermuda Longtail he saw an opportunity.
"Most called the Bermuda Longtail a boat in bad shape, one that nobody wanted,'' he said.
The assets of holding company Yhoshi include the tour boat the Bermuda Longtail .
A studio percussionist by trade and former co-owner of the local Yamaha marine franchise, as well as a former participant in the around the Island race, Mr.
Durham four years ago turned his business efforts to refurbishing the Bermuda Longtail .
But before taking to the water at a tour boat pace, Mr. Durham, with limited partner Mr. Alex Reaper, bought the Yamaha dealership which would later be sold to Mr. Michael Arujo.
After selling the Yamaha business he co-purchased 12 years ago, Mr. Durham dabbled in real estate then spotted the Bermuda Longtail , a 65-foot catamaran with a 26-foot beam, built by Florida-based Corinthian Yachts.
"When we bought the boat from the bank nobody was interested in it. Sitting off Darrell's Wharf, the boat looked like a ghost ship,'' he said.
"Her engines were underwater. We had to install new engines and a new generator. Every part was touched, we rewired, repainted and canvassed.'' The refurbished tour boat is powered by two 200 horsepower Perkins inboard diesel engines.
Mr. Durham estimated in the four years he has operated the Bermuda Longtail he has sunk about $300,000 into the tour boat. The costs have been offset by increased receipts.
Sales jumped 50 percent from year one to the second year of operation and have gained 25 percent in the two subsequent years of operation, he said.
But he declined to divulge a dollar amount for annual receipts in what he called an environment where the operators have a "friendly relationship'' but not one without incident.
Mr. Durham has not only turned his efforts to refurbishing the tour boat but also given a new look to the old Spence Barber Shop building on Ewing Street.
About 18 months ago, Yhoshi took up office space in the old barber shop. The building sits on the corner of Court Street just before the hill leading to the Transport Control Department.
The building, like the Bermuda Longtail , needed work.
Like the boat, nobody wanted the building, he said.
By moving in, cleaning up the building and setting up offices, Mr. Durham said has gained respect from the neighbourhood.
As well as getting the boat and office ship-shape, the entrepreneur has kept up his marketing efforts.
To market the boat, Mr. Durham decided the Bermuda Longtail would need popular "personalities'' behind the bar with what he called "Bermuda magic''.
The tour boat first offered a snorkelling trip then added limbo amid a festive atmosphere on its return.
The latest marketing move occurred about two weeks ago when the business began offering "nightclub'' tours three nights per week.
He also secured a contract with cruise ship agent John S. Darrell & Company Ltd. to take passengers out snorkelling.
But breaking into the hotel tourist market has been difficult so Mr. Durham decided to concentrate on residents.
"We found we couldn't get the hotel tourist market, so we decided to target the local market. Seventy percent of our business is local.'' Much of his market is private parties as well as school and church groups.
Hotel tour desk operator Bermuda Island Cruises Ltd. (BIC) recently came under fire for pushing their tour boats from the hotel tour desks they operated.
Mr. Durham said he does not have a problem with competitor BIC's operation of the hotel tour desks.
The situation, which allows BIC to promote its own tour boats over other Island operators, recently received criticism by some of the Island's tour boat operators.
Operators said their brochures were sometimes absent from the hotel tour desks and the desk employees were told to push BIC tours.
BIC said it was a case of "sour grapes''.
Mr. Durham gave credit to BIC for what they have done.
"It gives me more incentive to go after more business. It is better to respond through the product than to complain,'' he added.
Mr. Durham said it is unlikely he will add a second tour boat to the operation.
On Bermuda's tourism sector he said its future rests with "new blood. "The product must change, it can't be the same thing your grandmother did when she came to Bermuda,'' he said.
