Ask any experienced Komodo operator how they triage a shortlist and most will do the same arithmetic
within seconds: purchase price divided by revenue-generating cabins. It is the market’s default
comparison because it links acquisition cost directly to earning capacity. It is also the metric most
often misapplied, and buyers who rely on it without normalising the inputs end up comparing numbers that
describe entirely different assets.
Why the metric exists
A Komodo liveaboard earns per cabin per night. Cabins are the revenue units, so cost per revenue unit
is the natural first filter. It works across hull materials, ages and configurations in a way that price
per metre or price per tonne does not, because it measures the thing the business actually sells.
Indicative figures across the market, before any normalisation:
| Segment | Cabins | Indicative price per cabin (USD) |
|---|---|---|
| Entry, refit needed | 4–6 | 40,000 – 80,000 |
| Working, charter-ready | 6–9 | 80,000 – 150,000 |
| Premium overnight | 8–12 | 150,000 – 300,000 |
| Dive-specialist | 8–16 | 60,000 – 140,000 |
Two vessels can sit in the same row and be very different propositions.
Normalise before comparing
Count only revenue cabins
Crew cabins are not revenue units. Neither is a convertible saloon berth, which no serious charter
agent will sell as a cabin. Sellers sometimes include both. Recount from the general arrangement
yourself.
Adjust for ensuite provision
A cabin with a private head sells at a materially higher rate than one sharing facilities. A vessel
with eight ensuite cabins and one with eight shared-facility cabins do not compete for the same guests
and should not be compared at face value.
Adjust for occupancy potential
Double cabins, twin cabins and triples earn differently. A boat with configurable cabins that suit
both couples and dive groups has an occupancy advantage that a fixed layout does not.
Add the immediate capital requirement
This is the adjustment that changes conclusions most often. A vessel at 90,000 USD per cabin needing
400,000 USD of immediate work across eight cabins is effectively at 140,000 — above a vessel listed at
120,000 per cabin that needs nothing. Always compute price per cabin as purchase price plus known
immediate capital expenditure.
What the metric hides entirely
- Operating cost per cabin. A larger crew requirement, a thirstier engine or a maintenance-heavy
hull all reduce net margin regardless of acquisition cost. - Achievable nightly rate. Two boats with identical cabin counts can sell at very different
rates depending on presentation, reputation and space per guest. - Realistic operating days. A vessel that is more comfortable in transitional weather extends
its season, which is a revenue difference the metric cannot see. - Structural remaining life. A hull with fifteen years left and one with five look identical
per cabin today. - Guest space beyond cabins. Deck area, saloon size and dive platform quality drive both rate
and reviews.
A better second metric
Once the shortlist is normalised, move to cost per cabin per operating year over your intended holding
period. Take purchase price plus immediate capital, add projected maintenance and major refit across the
period, divide by cabins and by years. This surfaces the case that price per cabin systematically
misses: a more expensive vessel with a longer structural life and lower maintenance profile is frequently the less expensive asset to own.
Worked simply: an eight-cabin vessel at 800,000 USD needing 200,000 immediately, with 60,000 annual
maintenance over eight years, costs (800,000 + 200,000 + 480,000) ÷ 8 cabins ÷ 8 years, or about 23,000
USD per cabin per year. A six-cabin vessel at 400,000 needing 250,000, with 55,000 annual maintenance
over five years before major refit, works out at roughly 31,000. The apparently lower-priced boat is the more expensive one to own.
Where the metric genuinely earns its place
It is an excellent triage tool. Given twenty listings, price per cabin eliminates the obvious outliers
in minutes and focuses attention on the five worth investigating. It also disciplines sellers, because a
vessel priced far above its segment has to justify the gap with something concrete. Used as a filter it
is invaluable; used as a valuation it is misleading.
A note on cabin count and market fit
Higher cabin counts are not automatically better. Larger vessels need more crew, more fuel and more
guests to fill, and in shoulder months a big boat running half empty performs worse than a small one
running full. Six to nine cabins is where a large share of Komodo demand sits comfortably, which is why
that band holds value consistently and why price per cabin within it is a fairly reliable comparison.
Related reading
- Licensing a Small Speedboat for Park Work After Purchase
- Dive Boat for Sale in Komodo — Compressor-Ready Vessels
- Labuan Bajo Boat for Sale — Boats Based in Komodo’s Charter Port
Frequently asked questions
What is a reasonable price per cabin for a charter-ready boat?
Between roughly 80,000 and 150,000 USD covers most genuinely charter-ready vessels in the six to nine cabin band. Below that range, expect immediate capital requirements; above it, expect premium finish, ensuites and a stronger achievable rate.
Should crew cabins count?
No. They are a cost centre, not a revenue unit. A vessel with generous crew accommodation is better run, but those cabins never appear on an invoice to a guest.
Does the metric work for day boats?
No. Day boats earn per passenger per trip, so price per passenger seat combined with turnaround capability is the relevant comparison there.
How do I estimate immediate capital requirement before survey?
You cannot with precision, which is why the survey comes before the second payment tranche. For initial triage, assume ten to twenty per cent of purchase price on a working vessel and considerably more on anything described as needing attention.
Komodo Boat For Sale is a specialist maritime brand and digital platform under Juara Holding Group. Vessel-sale, construction and refit contracts are issued by PT Komodo Galangan Nusantara; brokerage and charter representation by PT Komodo Bahari Nusantara; boat management by PT Komodo Vessel Management.
Talk to the desk
If you are weighing a specific vessel, send us the listing and the month you want to be operating. WhatsApp +62 811 3941 4563 or email [email protected]. Figures are quoted in USD.