What does it mean to charter a yacht?

To charter a yacht is the lease or rental of a motor yacht or sailing yacht for an agreed period of time, usually a week in the case of luxury yacht charters for holidays in the popular Mediterranean and Caribbean charter grounds. Yachts can also be chartered for corporate events and special occasions such as weddings, and typically come skippered (with a crew) although bareboat, also known as demise charters (no crew, no provisions), are also sometimes available.