In a move that promises significant savings for yacht enthusiasts, Superyacht Holdings introduced a unique co-ownership program at the Monaco Yacht Show.
This innovative initiative allows individuals to relish the superyacht lifestyle with all its opulent perks, without the financial strain of full ownership.
Thomas Locastro, co-founder of Superyacht Holdings, described the experience as akin to “staying in a luxury boutique hotel at sea, exclusive to members of a highly elite private club.”
The program offers participants an average of five weeks of use annually, spanning the Mediterranean and Caribbean regions. Notably, several affluent individuals have already secured units in “Victorious,” a majestic 279-foot superyacht built in 2021, with a valuation of €110 million.
While chartering Victorious typically costs a steep €1.2 million per week, Superyacht Holdings’ program provides a more budget-friendly alternative. For an equity interest of €3 million in Victorious, owners then pay an annual fee of €300,000, which covers all associated expenses and gratuities.
Mathew Locastro, another co-founder, emphasized, “This isn’t merely a timeshare. Owners hold genuine equity ownership, offering them the flexibility to sell whenever they choose. They also have the liberty to decide on their stateroom bookings, duration, and dates aboard Victorious.”
The management team, with its vast experience in luxury hospitality, includes experts from the shared residential vessel The World, charter superyachts, and globally recognized boutique hotels. With a collective experience of 17 years as senior executives at The World, the world’s leading privately-owned residential vessel, the team brings unparalleled expertise to the table.
James St. John, the inaugural successful president & CEO of The World, endorsed the venture, stating, “This is the first company I’ve backed since leaving The World. It stands out as a financially and operationally viable enterprise in this domain.”
Victorious boasts a plethora of accolades and amenities, including the “Best of the Best” award (2022) and a top rank by YachtCharterFleet for its superyacht beach clubs (2023). The yacht features six bars, a piano lounge, movie theater, two Jacuzzis, a helipad, and an ocean lounge with a beach club, heated pool, and more.
In a strategic move, Superyacht Holdings has partnered with the Association for Corporate Growth to curate exclusive family office and private equity events. Bank of America Private Bank stands as the preferred lending partner for Superyacht Holdings.
Vural Ak, owner of AKYACHT and Victorious, confidently stated, “Superyacht Holdings is set to transform the industry, making the grandeur of the world’s most luxurious superyachts accessible to a wider audience.”