Luxury Revolution: Superyacht Holdings
In a bold move that could redefine the exclusivity of superyacht ownership, Superyacht Holdings is introducing a groundbreaking shared ownership structure for the illustrious Victorious superyacht. Valued at an impressive $117 million, this 279-foot-long vessel is no longer reserved for billionaires alone but opens its lavish embrace to those with a more modest net worth, thanks to Superyacht Holdings' innovative approach.
Forget spending over $100 million – now, for a mere $3 million, millionaires can co-own and cohabitate aboard the Victorious, offering an affordable alternative to the traditional model of superyacht ownership. This democratised initiative aims to bring together wealthy travellers, allowing them to enjoy several weeks a year aboard this floating paradise with other like-minded millionaires.
Superyacht Holdings is introducing a shared ownership structure where buyers contribute €3 million (approximately $3.2 million) to co-own the luxurious vessel. This entitles them to several weeks aboard the Victorious, shared with other co-owners. To cover costs like gratuities, fuel, and food, an annual fee of €300,000 (over $321,000) is also required, akin to a homeowners' association fee.
Scheduled to launch in the summer of 2024, the Victorious is set to sail through the Mediterranean in the summer, gracing countries like Spain, France, Croatia, and Greece. The winters, on the other hand, will see the opulent vessel navigating the Caribbean, transforming into a part-time condo building or a floating hotel.
Built in 2021 by Turkish entrepreneur Vural Ak’s Türkiye-based shipyard Akyacht, the Victorious boasts 12 staterooms, six bars, five formal dining spaces, and seven informal dining spaces. Co-owners have the flexibility to book staterooms at their preferred times, subject to availability. With an owner-occupancy rate predicted at 62.5%, it offers a unique and exclusive cruise experience, with a maximum capacity of 24 guests and 30 crew.
For anyone not familiar with Vural Ak’s superyacht, the Victorious is a floating marvel equipped with a walk-in wine cellar, two hot tubs, an indoor pool, a piano lounge, a movie theatre, and a helicopter pad for seamless transfers. The highlight is the 2,150-square-foot "beach club," featuring a heated pool, a steam room, a massage room, a gym, a salon, and various water toys like jet skis. Given that the ship is currently operational, Superyacht Holdings aims for a seamless transition with no refitting required.
With a commitment from buyers in the "aspirational wealth category," whose net worth is below $20 million, this shared ownership initiative makes the dream of luxury yacht experiences more accessible. Notably, Superyacht Holdings has attracted talent from The World, the exclusive residential cruise ship, with their president, James St. John, at the helm. This ship is the only condominium-at-sea concept in service, catering exclusively to buyers with a net worth of at least $10 million.
While the Locastro brothers, cofounders and co-CEOs of Superyacht Holdings, lack direct experience in the yacht or cruise industry, they express confidence in the success of this venture. Superyacht Holdings plans to acquire the Victorious under a "co-ownership LLC" once it reaches its target threshold of reserved units, dividing ownership into 60 units. With nine units already reserved, the startup is well on its way to realizing its vision.
As the launch date of summer 2024 approaches, Superyacht Holdings' shared ownership structure for the Victorious signals a paradigm shift in the world of luxury yachting, promising an unparalleled and more inclusive experience for discerning millionaires. With refundable deposits securing future buyers' positions, the anticipation builds for this revolutionary venture in the realm of superyacht ownership.
Find out more about how to acquire equity ownership here.