The excited new owners of the Maid Marion, Charmaine Ogilvie and Clint Rees, say it will still host the usual birthdays, Christmas parties and hen's nights - and the onboard disco, karaoke and slushie machine for alcoholic drinks remain.

There just won't be the wild stripper nights and over-the-top parties that gave the boat a reputation in the past of being a kind of crazy floating nightclub.

The couple, formerly from New Zealand, have revamped the boat and removed all the arrr-me-hearties paraphernalia including the pirates, the shark with a severed arm hanging out of its mouth and the Jolly Roger.

The new name of the business is Canberra Cruises and Parties and the couple says it will still be about people having a good time - "Book your party on the water!" - and enjoying Lake Burley Griffin and the cityscape from a different perspective. There will be functions as well as guided tours around Lake Burley Griffin and hiring available for special events such as Skyfire.

"Yes, it's a party boat but we also want to use if for a lot of other things," Ms Ogilvie said.

"We're thinking about doing some wine tasting tours and things like that.

"The beauty of this boat is that it's a floating venue so if you want a corporate function you can, birthday parties it's obviously perfect. You can have a hen's do. You can even have a book club.

"The world's your oyster, really, with this boat. We're just trying to get our name out there now and show that we're different. People say to us, 'Oh, yeah, I know that, it's that sleazy pirate boat'.

"The former owner used to do lots and lots of bucks' nights and specific stripper nights, which we're not going to do. We want it to be really classy and we've got a lot stricter terms and conditions. If you cause any trouble, you're off, the party's over."

The couple bought the boat in late January after the previous owner passed away. They have a connection to the boat, Mr Rees' uncle Brian Cropp is an engineer who made most of the pirate-themed props. They were also ready for a business to combine their talents, Ms Ogilvie has a background in events and Mr Rees works in the automotive industry.

"We thought we were the perfect team for it," she said

"When we heard it was up for sale, we thought that would be a really, really good business. Not knowing what was about to come around the corner."

The couple is remaining upbeat and positive about the future, despite weathering a storm of problems.

They had already signed the paperwork to purchase the boat when the January 20 hailstorm hit, smashing every light and ripping through the canopy.

Numbers were already down due to the bushfires and COVID-19 social distancing now means they can only carry 14 people at a time when in usual times it can hold up to 40. Ferrying people to and from Floriade is also not happening with the spring-time festival cancelled.

They are now considering asking the ACT government for an exemption to have 20 guests on board.

They have made allowances for social distancing, with even crosses on the dance floor so that people stay in the right spot.

"We've got upstairs and downstairs, we've got heaps of space and all the functions are generally going to be private, everyone knows everyone and contact tracing would be very quick," Ms Ogilvie said.

"People want to book the boat but they want more than 14 people."

The couple say they've had enormous support from Canberra's small boating community and hope that the Maid Marion continues to be part of Canberra's social scene.

"It's had a massive makeover compared to what it used to be, new ownership and definitely planning on classier events," she said.

More details at canberrapartyboat.com.au.