Source : Webster's Revised Unabridged Dictionary (1913)

Yacht \Yacht\ (y[o^]t), n. [D. jagt, jacht; perhaps properly, a
   chase, hunting, from. jagen to chase, hunt, akin to G. jagen,
   OHG. jag[=o]n, of uncertain origin; or perhaps akin to OHG.
   g[=a]hi quick, sudden (cf. {Gay}).] (Naut.)
   A light and elegantly furnished vessel, used either for
   private parties of pleasure, or as a vessel of state to
   convey distinguished persons from one place to another; a
   seagoing vessel used only for pleasure trips, racing, etc.

   {Yacht measurement}. See the Note under {Tonnage}, 4.

Yacht \Yacht\, v. i.
   To manage a yacht; to voyage in a yacht.

Source : WordNet®

yacht
     n : an expensive vessel propelled by sail or power and used for
         cruising or racing [syn: {racing yacht}]

yacht
     v : travel in a yacht