A new residential cruise ship plans to sail around the world every 2½ years. Cabins start at $11 million.

Wed, 09/25/2024 - 15:36

rendering of Ulyssia — Ulyssia Residences says its residential superyacht will launch in 2028 with 132 cabins starting at about $10.95 million each.
Ulyssia Residences

Ulyssia Residences plans to launch a residential ship in 2028.
The 132-condo Ulyssia would sail around the world every 2½ years.
Buyers need a net worth of at least $27.9 million to be considered for its $11 million-plus cabins.

Do you have a travel itch, a love of sailing, and an extra $11 million to spare? If so, Ulyssia Residences has a ship for you.

The Switzerland-based company says its first 132-cabin residential vessel will launch in October 2028. From then on, the floating condominium would sail around the world every 2½ years, from the cold waters of Greenland to the warm beaches of Madagascar.

Ulyssia is one of several new contenders vying for cruise lovers' hearts and wallets. But unlike competitors such as Villa Vie and GlobeCruises, this newcomer is marketing its vessel as a "superyacht" replete with high-end amenities like helicopters and submarines for ultra-high-net-worth travelers.

Ulyssia's condos would be some of the priciest and largest in the niche residential cruise industry.

rendering of a living room on Ulyssia Residences' ship — The ship, shown in a rendering, would accommodate up to 300 guests and 320 crew.
Ulyssia Residences

The ship's 132 cabins would accommodate up to 300 residents and guests. However, Alain Gruber, the CEO of Ulyssia Residences, told Business Insider in an email that he estimates the vessel will have an average of 200 guests onboard.

The one- to six-bedroom condos would start at 9.8 million euros, or about $10.95 million.

rendering of penthouse on Ulyssia — The ship would have 22 rentable guest suites and 10 penthouses, as shown in a rendering.
Ulyssia Residences

It's a relatively steep starting cost — one of Villa Vie's most expensive cabins was reserved at $469,000, although it's about three times smaller than Ulyssia's smallest 1,216-square-foot accommodation.

Yet both are compact compared to Ulyssia's penthouses, the largest of which would span 10,570 square feet. As expected, with this size comes a steeper starting cost of €60 million, about $67.04 million.

No matter the square footage, Ulyssia's floating condos would all have amenities like reception rooms, kitchens, terraces, and floor-to-ceiling windows.

It's the price of a permanent around-the-world vacation on a luxury ship.

rendering close up of Ulyssia ship — Ulyssia, shown in a render, would sail around the world every 2½ years.
Ulyssia Residences

Gruber said residents would vote on management's itinerary options, finalized three years in advance.

Like many mass-market around-the-world cruises, the ship would spend at least three nights — up to one week — at every port, giving travelers more time to immerse themselves in each destination.

Expect up to two "major expedition" segments every year, one in a cold climate (like the Northwest Passage or the Arctic) and one in warmer weather (like Madagascar or Micronesia).

Gruber noted that most interested travelers have been families and folks in their 50s.

rendering of Ulyssia ship — Ulyssia's team started planning its residential ship, shown in a render, two years ago.
Ulyssia Residences

The ship would have children and education services to accommodate the youngest travelers.

As for the older guests, the company's CEO expects most to be "entrepreneurial" — the kind of people who would own multiple homes in different countries, Renato Chizzola, Ulyssia's senior vice president of lifestyle and development, said in a press release.

But there's one major roadblock between these wealthy would-be residents and a life at sea.

Ulyssia doesn't have a ship yet, and the vessel acquisition process has become an infamously difficult challenge for similar startups.

Residential cruise companies can either build a new ship (as Ulyssia plans to) or refurbish an older used vessel.

Storylines is pursuing the former by building its own luxury residential ship. However, its launch has been delayed eight years to 2027, and former employees, consultants, and investors told BI in 2023 that they'd started to doubt the vessel would ever be built.

Life at Sea Cruises intended to purchase a used vessel for its three-year sailing. But it failed to secure enough funding and canceled its voyage two weeks before its planned departure in November 2023.

The company filed for bankruptcy eight months later.

Villa Vie successfully purchased a more-than-30-year-old vessel for its never-ending cruise, which could set sail in the coming days. However, its launch has already been delayed four months amid issues like the ship's aging rudder stocks and certifications.

Ulyssia's team tapped Meyer Werft to build its superyacht, a €1.7 billion — about $1.9 billion — project.

rendering of marina on Ulyssia ship — Ulyssia, shown in a rendering, would have amenities like a beach club.
Ulyssia Residences

The popular German shipbuilder has constructed cruise ships for recognizable companies like Disney, Celebrity, Norwegian, and Royal Caribbean.

Ulyssia said construction on its vessel is scheduled to begin in the fall of 2024 "but no later than" September 2025. The ship would then be completed in October 2028 (but by March 2029).

Gruber said his team is 'fully funded' and 6 months ahead of schedule.

rendering of outdoor deck on Ulyssia — Ulyssia, shown in a render, would have high-end common spaces.
Ulyssia Residences

Frank Binder, the company's founder and chairman, is the principal investor. Customer deposits and financial institutions will also help finance the shipbuilding process.

The ship's amenities could provide some insight into its massive price tag.

rendering of marina on Ulyssia — Ulyssia, shown in a render, would have amenities like a "culinary studio," market, and water toys.
Ulyssia Residences

Ulyssia is promising amenities like a spa and gym with indoor padel and pickleball courts.

Take a dip in the ocean water at the ship's marina, which would be outfitted with water toys and dive equipment, including two submersibles.

Or, head to the skies with one of the two eight-seater helicopters.

Feeling peckish? The ship would have seven restaurants and four bars.

rendering of pool on Ulyssia — Residents would have amenities like indoor and outdoor pools, as shown in a render, and a garage for their vehicles and bicycles.
Ulyssia Residences

Residents can also expect traditional cruise ship facilities like pools, a cigar lounge, a nightclub, a theater, and a medical center.

The latter would be upgraded with equipment for diagnostics and surgery, such as a magnetic resonance imaging (MRI) scanner.

Several members of Ulyssia's team, including its CEO, previously worked for The World, currently the only luxury residential ship in operation.

rendering of helicopter pad on Ulyssia — Ulyssia said its ship, shown in a render, would have two helicopters that would take guests to excursions, airports, and hospitals.
Ulyssia Residences

The World and Ulyssia have two key differences — their vessels' ages and their residents' net worth.

The World's ship would be 26 years old by the time of Ulyssia's planned launch in 2028.

The World requires its buyers to have a minimum net worth of $10 million.

Ulyssia's minimum is €25 million — about $27.87 million.

At least its travelers would get to see the world on a luxury superyacht. The helicopters and submarines probably help, too.

Read the original article on Business Insider

Travel, Transportation, residential-cruise, Storylines, villa-vie-residences, ulyssia, the-world, wealth-news

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A new residential cruise ship plans to sail around the world every 2½ years. Ca…