“Interval” or timesharing upscale resort ownership is available on floating resorts, too, through the fractional ownership of multi-million dollar yachts. Starting at a cost of $75,000 (if your week falls from May 1 to October 31) on up to $135,000 (for a week during the winter holiday periods), you can own a week of cruising time in a Fairline Squadron 78 every year for five years.
Here’s how it works: the yacht is owned by a limited liability corporation and divided into weekly memberships. After five years, the yacht is sold, proceeds distributed between the owners, and the LLC is dissolved. The Moorings manages all the operating issues and can generate revenue for you by chartering out your time if you don’t want to use it.
Your annual week in the Moorings Fractional Ownership Program includes the
services of a captain and chef, and a concierge service. The yacht has four double guest cabins and plenty of toys and goodies.
“Consumables such as food, beverages, sat phone bill and fuel are at the owner’s expense when using the yacht…owners pay a monthly operating expenses charge based on their membership share and a small management fee. This covers the upkeep of the yacht, annual haul out, crew and insurance,” says Moorings representative Josephine Tucci. “Savings compared to typical chartering fees are considerable.” Several owners already are in the process of signing contracts. For information, call 1-800-675-7996. www.mooringsfractional.com.