The Latest Trend in Superyachts: Shared Ownership
Industry-first ‘By the Stateroom’ program spreads the costs of ownership for an award-winning €110 million superyacht among less than 60 owners
At the Monaco Yacht Show today, Superyacht Holdings announced a pioneering, first-of-its-kind program for the yacht industry which allows owners to enjoy the superyacht lifestyle and its perks without the commitment, hassle and expense of full ownership.
“A stay aboard can be compared to a luxury boutique hotel at sea, among members of the most exclusive private club in the world,” said Thomas Locastro, co-founder of Superyacht Holdings.
Each unit of ownership grants an average of five weeks of use per year on an expansive Mediterranean and Caribbean itinerary. Superyacht Holdings is launching their application for ownership with several notable individuals already purchasing units in “Victorious,” a stunning 2021 new build 279-foot superyacht worth €110 million.
Currently, Victorious charters to customers for a total cost of roughly €1.2 million per week.
By contrast, through Superyacht Holdings’ program, owners purchase an equity interest in Victorious for €3 million, then pay annual dues of €300,000, which covers all expenses and gratuities.
“This is not a time share,” said co-founder Mathew Locastro. “Owners will enjoy true equity ownership that can be sold at any time. They have flexibility in how many staterooms they book, their duration of time, and the dates they select to stay aboard Victorious.”
The management team brings extensive industry experience and a proven track record of success across the luxury hospitality industry. Team members were hand-picked from the shared residential vessel The World, charter superyachts, and internationally-acclaimed boutique hotels.
While shared usage co-ownership is new to yachting, it has its roots in The World Residences at Sea. The Superyacht Holdings management team boasts 17 years of experience as senior executives at The World, currently the world’s largest privately-owned residential vessel.
“After being approached by and working with some of the most notable maritime projects in this space, this is the first company I have decided to put my name on since leaving The World,” said James St. John, the first successful president & CEO of The World. “It is the only company of its kind that makes both financial and operational sense.”
Victorious’ awards and amenities include:
● “Best of the Best” award (2022)
● YachtCharterFleet ranked Victorious first in its list of top 10 superyacht beach clubs (2023)
● 6 bars, piano lounge, movie theater, fireplace lounge, two Jacuzzis and a helipad
● Ocean lounge including beach club, heated pool, steam room, massage room, gym, beauty salon,
and foldout balconies
● Tenders, jet skis, and a wide range of water toys
Superyacht Holdings has announced a partnership with the Association for Corporate Growth. Together they will host bespoke family office and private equity events. Bank of America Private Bank is Superyacht Holdings’ preferred lending partner.
All existing and future charter bookings will be honored when the yacht transitions from charter to program launch after the yacht is acquired by the co-ownership group. “Superyacht Holdings will disrupt the industry by selling the world’s largest superyachts to a much wider segment of the market,” said Vural Ak, who owns AKYACHT and Victorious.
Maritime Business World