Latest news with #SevenSeasNavigator
Travel Weekly
3 days ago
- Business
- Travel Weekly
Are residential cruises an opportunity for travel advisors?
A small but intriguing part of the cruise business may be set to grow after another residential cruise company has appeared, promising consumers they can buy a cabin and live year-round at sea. Founders of residential lines said they are optimistic about the success of this sector. They point to cruise lines sailing longer world cruises as a trend in their favor. Improvements in high-speed WiFi and consumers' flexibility in working from home are trends supporting this niche product. But some travel advisors said they are hesitant to sell space on residential cruise lines, noting a lack of trade inclusion in the lines' sales strategies and high-profile but troubled product launches. Several residential cruise lines have carved out a space in the industry. Perhaps the best known is The World, a luxury condominium ship that has been in operation for more than 20 years. The newest brand in the market is Crescent Seas, which was founded by former Norwegian Cruise Line Holdings chairman and real estate developer Russell Galbut. He plans for the line to begin sailing in December 2026 on the Seven Seas Navigator, which will be chartered from Regent Seven Seas Cruises and renamed the Crescent Seas Navigator. Crescent plans to expand the fleet a year later by chartering the Oceania Insignia from Oceania Cruises. Both ships will undergo $50 million refurbishments, and three more vessels could be announced over the next five years, Galbut said. Sales for residences on the Navigator, priced from $750,000 to $8 million opened in April. Condos on the Insignia are priced from $650,000 to $10 million, with sales opening this summer. Another line, Villa Vie, uses a former Fred. Olsen ship and offers the opportunity to buy or rent a cabin or buy a seasonal ownership membership. Other brands are in the works, including Storylines, which is building its own ships. Some launches have been messy and failed. In 2023, Life at Sea Cruises canceled its voyage two weeks before embarkation, saying the purchase of a cruise ship fell through shortly before its sail date, according to media reports. Owned cabins were even part of a model for a planned Crystal Cruises ship, but that version of the line ceased operations before the vessel could be built. Carlos Edery, CEO and co-founder of Luxury Cruise Connections based in Miami Beach, said he has noticed a growing interest from affluent clients in living at sea year-round. Nonetheless, he remains wary. "The recent struggles and delays seen with ventures ... have made us cautious about recommending such investments until we see consistent, successful operational execution," he said. In the case of Crescent Seas, travel advisors are built into the sales structure. They can earn a commission when selling a residence or when booking their clients on shorter-term voyages when residents taking a break from the ship opt to make their cabins available to rent. "There's a lot of logic why a travel agent would want to be involved with us," Galbut said, although he declined to share what the commission rate was. Real estate agents, yacht brokers and private bankers could also sell commissionable space on these ships, he said. Alex Sharpe, CEO of Signature Travel Network, said there is a lot to like about the Crescent Seas project, but he stopped short of saying he envisions selling it. "There are certainly earning opportunities, but at the same time, it is not what a typical travel advisor does, so it would likely be more specialized and, for us, will require more research and deliberation," he said. Dennis Nienkerk, a luxury advisor at Dallas-based Strong Travel Services who worked in commercial real estate for more than 25 years, said he knows people who owned condos on the World, and he would welcome the opportunity to sell units on the Navigator. Villa Vie founder and chairman Mikael Petterson said he was looking to better incorporate advisors in his product to sell world cruise segments on the ship. The Villa Vie Odyssey is 74% booked, which leaves room to sell segments to traditional cruisers, he said. Petterson, who was managing director of Life at Sea Cruises, isn't surprised that another residential cruise line has entered the market. If anything, he's surprised there are not more. "World cruises are getting longer and longer," he said. "The option of living onboard with high-speed WiFi, the flexibility of people working from home -- all these factors come together and make residential cruising that much more feasible." That doesn't mean it is easy. Petterson launched the Odyssey from Belfast, Ireland, in September following a four-month delay due to inspection issues associated with the ship, which sat in dry dock before returning to service. Now Petterson is looking for a second ship, and he said he hopes it will come with a smoother launch. Earlier this year, he said he was "knee-deep" in negotiations for a ship currently in operation that contains no more than 600 cabins.
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Travel + Leisure
08-05-2025
- Entertainment
- Travel + Leisure
Regent Seven Seas Cruises Reveals a First Look of Its Newest Ship—See Photos
It's a Travel + Leisure reader favorite cruise line, consistently ranking for its luxurious ships, incredible service, and top-notch entertainment and shore excursions. In late 2026, Regent Seven Seas Cruises is set to raise the all-inclusive luxury bar even higher with the launch of Seven Seas Prestige , its seventh ship and the first of the all-new Prestige-class ships. Currently in build at Italy's Fincantieri shipyard in Ancona, Italy, Regent has revealed the first glimpse inside the ship, sharing images of two public spaces: Starlight Atrium and Galileo's Bar. One of the many lounges on board the Prestige. Regent Seven Seas Cruises Fans of Regent's trademark lavish design won't be disappointed, with touches such as handblown glass and ceramic pearls and light fixtures fashioned to resemble jewelry among the intricate interior details. Yohandel Ruiz, Founding Partner at Studio DADO, the creative team behind both spaces, described Starlight Atrium as a place where 'the grandeur of Renaissance architecture meets modern luxury." Scenic ocean views visible from the panoramic floor to celling windows. Regent Seven Seas Cruises 'Our goal was to get people to stop in their tracks, awe-struck by its sheer scale and magnificence,' Ruiz said in a statement shared with T+L. Twin spiral staircases and a glass-enclosed ceiling are feature highlights in the two-story atrium, which impresses with its palette of brushed taupes, soft creams, and royal blues. Pleated leather panelling and embellished trims 'recall an era of quality craftsmanship and style,' Regent said. One of the bars that will be on board. Regent Seven Seas Cruises Accessible from Star Atrium, Galileo's Bar is named to honor Galileo's Lounge, the beloved lounge area on Seven Seas Navigator , a ship set to leave the Regent fleet in 2026. Limestone-clad walls, a contemporary canvas styled like an oil painting on the ceiling and a striking, striped floor create a glamorous setting for guests to mingle and sip Champagne. Seven Seas Prestige is Regent's first new ship class in a decade and will accommodate 822 passengers in one of the highest passenger-to-space ratios on the sea. The second ship in the class is expected to set sail in 2029. 'Hosting only 822 guests on a ship that could fit hundreds more means we will offer Heartfelt Hospitality in Unrivaled Space at Sea like never before,' Jason Montague, the chief luxury officer for Regent Seven Seas Cruises, said in the statement. As Seven Seas Prestige approaches its completion date, Regent is promising more reveals to follow, including all-new accommodation categories, a reimagined Regent Suite, and dining experiences.
Yahoo
31-03-2025
- Business
- Yahoo
This cruise ship is getting a $70-million face-lift to become a home-at-sea for the ultra-rich
A cruise ship is being transformed into luxury residences at sea. The Navigator, originally built in 1999, will undergo a multimillion-dollar renovation. Condos on the ship will cost upward of $750,000, and residents will have access to butlers. A two-decades-old cruise ship is undergoing a multimillion-dollar renovation to become a floating residential community for the ultrawealthy. Regent Seven Sea Cruises' Navigator is set to become the first ship of the Crescent Seas fleet. Crescent Seas announced in an Instagram post that the ship is scheduled to set sail on December 31, 2026, following a $70 million renovation. Originally constructed in 1999, the Navigator underwent a major refurbishment in 2016. In its current form, it has eight decks, 248 suites, a pool, and a putting green. After the refurbishment, it will feature 210 private residences, offering buyers the chance to purchase homes and live on board as it travels the globe. Russell Galbut, the cofounder of real estate development firm Crescent Heights, which launched Crescent Seas, told Bloomberg that the price of homes on the ship will range from $750,000 to $8 million. He said owners will pay maintenance fees starting at $210,000 a year, which will cover butler service, meals, housekeeping, and access to Starlink internet. Sales of the luxury residences are set to begin on April 9 this year. A spokesperson for Regent confirmed in an email to Business Insider that the Seven Seas Navigator will leave its fleet on October 14, 2026, as part of the terms of a new long-term agreement with Crescent Seas. The ship's final voyage under Regent is scheduled to depart on October 2 next year, from Turkey to Egypt. They added that guests whose trips are canceled due to the agreement will receive a full refund. Galbut told Bloomberg that Crescent Seas is negotiating with three other ships and is in talks to commission a new vessel as part of long-term plans to develop more options for residential living at sea. The company's website said the design firms MAWD, Lissoni & Partners, and Journey will lead the Navigator's redesign. Luxury residential cruise ships already exist, including the Villa Vie Residences, where villas on board start at $129,999, and The World, where condos cost between $2 million and $15 million each. The World is equipped with a large spa, a tennis court, and personalized concierge services. Peter Antonucci, who lived on The World for six years, told BI last year that it is like the "Four Seasons on Steroids." Read the original article on Business Insider
Bloomberg
21-03-2025
- Business
- Bloomberg
Former Norwegian Chairman Readies $1 Billion for Condos at Sea
A developer of residential towers in New York, Miami and Los Angeles is embarking on a new venture, with plans to spend more than $1 billion converting cruise ships into luxury condos on the seas. Russell Galbut, managing principal of developer Crescent Heights, struck a $230 million deal with Norwegian Cruise Line Holdings Ltd. for a long-term lease on his first ship. Galbut said he intends upgrade the vessel, known as the Seven Seas Navigator, and sell berths to customers who'd want to live on the ship for extended periods of time.
