Renting a luxury yacht is simply chartering a luxury yacht. This can be a luxury motor yacht charter or a luxury sailing yacht charter, but in both cases, the luxury boat will be chartered. Luxury, by definition, should be a cruise ship from the top of the market.
The luxury yacht is really an umbrella term covering a whole range of ships with no real standards on what is luxury and what is not. If it were luxury in terms of size, value, and cost of building, then the world's most luxurious yacht would be the largest owned by some of the world's richest people. You can also book a private yacht charter from H2OH cruises.
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If you are considering chartering a luxury yacht, then think about the money because that is what you will need and there are plenty of them. These boats are like hotels or cars, you pay what you can afford and you get what you pay for. You can have fun chartering a cheaper yacht without the fancy amenities, but you won't be spoiled too much.
Some luxury yachts are used exclusively by their owners and guests, others are chartered year-round by the ship's companies, and a large number are privately owned but available for charter when the owners are not using them. Boat charters vary widely from eighty-foot boats with two crews to large yachts with twenty crews.
The luxury yacht charter industry operates efficiently as private yacht owners and charter yacht owners replace their expenses with charter income and this income keeps their yachts in good condition and well maintained.