superyacht holdings

You can own part of this 279-foot-long superyacht for $3.2 million and stay on it whenever you want — see inside

• Superyacht Holdings is giving millionaires the chance to cohabitate the $117 million Victorious superyacht .
• The minimum one-time co-ownership payment is $3.2 million plus an annual over $321,000.
• With plans to launch in the summer of 2024, the startup is waiting to acquire the 279-foot-long vessel.

Calling all millionaires and billionaires: You no longer have to drop over $100 million to own a luxurious superyacht . Try a very affordable $3 million instead.

Superyacht Holdings is taking a (relatively) democratized approach to superyacht ownership with its first target acquisition, the €110 million — about $117 million — Victorious. Instead of asking one billionaire to independently pay for and own this 279-foot-long vessel, wealthy travelers can cough up €3 million, about $3.2 million, to co-own and cohabitate the Victorious for several weeks a year with other millionaires.

According to the startup's itinerary, the superyacht would spend its summers in the Mediterranean and winters in the Caribbean, turning this lavish vessel into a floating hotel or part-time condo building. Like a HOA fee , buyers would also have to pay an annual €300,000 — over $321,000 — to cover costs like gratuities, fuel, and food. (For context, the 279-foot-long Victorious can currently be chartered for $950,000 a week in the winter.)

"When billionaires get on yachts of this magnitude, their jaws still drop at the luxury," Thomas Locastro, Superyacht Holdings' cofounder and co-CEO, told Insider

Built in 2021 by Turkey-based Akyacht, Victorious has 12 staterooms, six bars, and five formal (seven informal) dining spaces.

Buyers can book whichever staterooms at whatever times of the year they'd like, pending restrictions based on how much they're willing to pay. This means there's a good chance several of these wealthy travelers would be on the yacht at the same time, like a very exclusive cruise .

At most, there could be 24 guests and 30 crew onboard. During big events like the Monaco Grand Prix or New Year's Eve, the vessel could be at full capacity. But on average, the startup is predicting an owner-occupancy rate of 62.5%.

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"There's so few yachts in the world that would work for a program," Matthew Locastro, cofounder and co-CEO, said, noting the Victorious' size and number of staterooms.

The vessel has a walk-in wine cellar, two hot tubs, an indoor pool, a piano lounge, and a movie theater.

A helicopter pad can be used to shuttle travelers to and from the floating hotel. And let's not forget the onboard 2,150-square-foot "beach club" with a heated pool. This is also where the steam room, massage room, gym, salon, and water toys like jet skis are located.

And because the ship is currently in operation, Superyacht Holdings won't have to do any refitting work. "We want it to be ready to go on day one," Matthew said.

To the few who have ever considered buying a superyacht, this could be a great deal

For all of these amenities and a guaranteed few weeks on the vessel, travelers only have to cough up less than 3% of the Victorious' price. While still unattainable to the general public, this opens the pool of buyers from billionaires to multi-millionaires.

The startup's president, James St. John, was previously the president and CEO of luxury residential cruise ship The World where accommodations now resell between $2 million and $15 million. This vessel is the only condominium-at-sea concept in service and is exclusive to buyers who have a net worth of at least $10 million.

However, having previously worked in the entertainment and financial advisory industries, the cofounding and co-CEO Locastro brothers have no experience running a yacht or cruise company.

Superyacht Holdings hasn't acquired its vessel yet, but this isn't uncommon for ship startups

When Superyacht Holdings hits its target threshold of reserved "units," the company will plan to move forward with the Victorious' acquisition under a "co-ownership LLC," according to the brothers. That's when all of the buyers' $3.2 million-per-unit payments would go into a common escrow account.

Buyers' ownership of the ship is divided into 60 units. One unit entitles a buyer to a certain amount of usage of the yacht, an annual average of between three weeks in the nicest suite to seven weeks in the least luxurious twin stateroom.

Nine of the units have been reserved, Matthew told Insider in an email on November 6. One of the buyers, Justin Thorton, signed a memorandum of understanding to purchase two, entitling him to double the normal usage.

Less than a year away from its target launch of summer 2024, the brothers seem confident in this acquisition. In the meantime, future buyers' $100,000 deposits — to be held in a personal escrow account until the company closes on the Victorious — are refundable.

Watch: What it takes to build a 164-foot superyacht

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Superyacht Holdings' disruptive shared ownership program for 279' Victorious

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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

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An explosion at a refinery owned by state-run energy giant Gazprom in the Russian city of Omsk on Aug. 26 injured at least two people, the company's press service reported.

Vitaly Khotsenko, acting governor of Omsk Oblast, confirmed that two people had been injured and claimed that the situation was under control.

Khotsenko said the circumstances of the fire were still being investigated.

Russia's Emergency Situations Ministry said that 27 first responders and seven pieces of equipment were dispatched to the scene of the explosion.

The state-run media outlet TASS said that the two injured were being treated on the scene. At the same time, the Baza Telegram channel claimed that both were in serious condition .

At the time of this publication, there was no indication of outside involvement in the explosion.

Omsk is located in central Siberia, north of the Kazakh border. The city of more than 1 million people is some 3,000 kilometers (~1,860 miles) east of Ukraine.

Over the last year, Ukraine has escalated attacks against Russia's oil industry, successfully reducing the processing capacities of multiple facilities.

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