Residenseas

At 10:00p here in LV, there was a show about the Residensea's condo
cruise ship, World. http://www.residensea.com/index.html The show
was really interesting, though I went to sleep after about 40 minutes
and missed the balance. Personally, I find the concept fascinating and
wonder how the ship is doing. The show was done after the ship was
occupied and had accumulated some miles, but it was obviously done
during the first flush of success.

Now that there's been a little graying of the ship's hair, I wonder how
it is doing financially. Anyone know? Other little things come to
mind- such as how the charges are apportioned to the owners. For
instance, is it done on the basis of square footage occupied or the
number of owners? For instance, does the owner of a large cabin pay the
same as the owner of a smalller one? Also, how much would it be per
month for a typical cabin?

Other items in the show raised more questions than they did answers.
For instance, there's a dining room. If you're a resident, do you eat
as part of your monthly charges or is there an individual charge per
meal? We once belonged to a dinner club where there was a monthly
assessment coupled with a per meal charge. Your monthly assessment
included a "credit" that you had to 'eat up' each month. Is the World
that way?

Nonny
--
---Nonnymus---
You don’t stand any taller by
trying to make others appear shorter.

Nonnymus wrote:

I hit "send," before finishing some thoughts. Another thing that I
wondered about is whether there have been any resales and if so, were
they in the black or red?

Nonny



At 10:00p here in LV, there was a show about the Residensea's condo
cruise ship, World. http://www.residensea.com/index.html The show
was really interesting, though I went to sleep after about 40 minutes
and missed the balance. Personally, I find the concept fascinating and
wonder how the ship is doing. The show was done after the ship was
occupied and had accumulated some miles, but it was obviously done
during the first flush of success.

Now that there's been a little graying of the ship's hair, I wonder how
it is doing financially. Anyone know? Other little things come to
mind- such as how the charges are apportioned to the owners. For
instance, is it done on the basis of square footage occupied or the
number of owners? For instance, does the owner of a large cabin pay the
same as the owner of a smalller one? Also, how much would it be per
month for a typical cabin?

Other items in the show raised more questions than they did answers. For
instance, there's a dining room. If you're a resident, do you eat as
part of your monthly charges or is there an individual charge per meal?
We once belonged to a dinner club where there was a monthly assessment
coupled with a per meal charge. Your monthly assessment included a
"credit" that you had to 'eat up' each month. Is the World that way?

Nonny


--
---Nonnymus---
You don’t stand any taller by
trying to make others appear shorter.

On Fri, 07 Sep 2007 13:48:25 -0700, Nonnymus wrote:

Nonnymus wrote:

I hit "send," before finishing some thoughts. Another thing that I
wondered about is whether there have been any resales and if so, were
they in the black or red?

Hi Nonny,

I will shed some light on this ship as I have sailed and booked
clients on her since her inagural. There have been resales but I
could not confirm the pricing so, unfortunately, could not confirm
whether they were in the red or black.

Now that there's been a little graying of the ship's hair, I wonder how
it is doing financially. Anyone know?
They have had a very rough time financially. They originally hired
Silversea to sell and manage the ship. That agreement fell apart in
very short order. The original founder(s) ended up losing control and
the banks taking over. There were complaints from some of the
homeowners about transient guests staying onboard which led the
homeowners to eventully take over the ship's ownership. The funny
thing is they now encourage travel agents to book these transient
guests. I guess they decided they did need help in paying the ongoing
bills. ;+)

Other little things come to
mind- such as how the charges are apportioned to the owners. For
instance, is it done on the basis of square footage occupied or the
number of owners? For instance, does the owner of a large cabin pay the
same as the owner of a smalller one? Also, how much would it be per
month for a typical cabin?
The homeowners fees were based on the size of the cabins. The larger
ones paid more.

Other items in the show raised more questions than they did answers. For
instance, there's a dining room. If you're a resident, do you eat as
part of your monthly charges or is there an individual charge per meal?
We once belonged to a dinner club where there was a monthly assessment
coupled with a per meal charge. Your monthly assessment included a
"credit" that you had to 'eat up' each month. Is the World that way?
The dining room charges are not included if you were an owner. It is
strictly a pay as you go dining concept for the homeowners. There are
various plans for us transients g that included various meal
options.




Best regards,
Ray
LIGHTHOUSE TRAVEL
800-719-9917 or 805-566-3905
http://www.lighthousetravel.com
--

Like Daddy used to say... "If you have to ask.... you can't afford it".

--Tom

"Nonnymus" wrote in message
...
At 10:00p here in LV, there was a show about the Residensea's condo cruise
ship, World. http://www.residensea.com/index.html The show was really
interesting, though I went to sleep after about 40 minutes and missed the
balance. Personally, I find the concept fascinating and wonder how the
ship is doing. The show was done after the ship was occupied and had
accumulated some miles, but it was obviously done during the first flush
of success.

Now that there's been a little graying of the ship's hair, I wonder how it
is doing financially. Anyone know? Other little things come to mind-
such as how the charges are apportioned to the owners. For instance, is
it done on the basis of square footage occupied or the number of owners?
For instance, does the owner of a large cabin pay the same as the owner of
a smalller one? Also, how much would it be per month for a typical cabin?

Other items in the show raised more questions than they did answers. For
instance, there's a dining room. If you're a resident, do you eat as part
of your monthly charges or is there an individual charge per meal? We
once belonged to a dinner club where there was a monthly assessment
coupled with a per meal charge. Your monthly assessment included a
"credit" that you had to 'eat up' each month. Is the World that way?

Nonny
--
---Nonnymus---
You don’t stand any taller by
trying to make others appear shorter.

Tom K wrote:
Like Daddy used to say... "If you have to ask.... you can't afford it".

--Tom

Understood. The show said that you needed at least a net worth of $5m
to even be considered a player.

Tom, my background is in commercial (income property) finance, so the
financial doings of this venture spark my curiosity beyond a normal
interest. In many respects, it's little different than a stateside
highrise condo, with a bit of timeshare inserted to keep the accountants
riled up and probably a whole bunch of new maritime law. When I was but
a tender lad, I got thrown to the wolves in taking over the financing,
design, development, building, sales and management of a very exclusive
condo project that happened to be the first in the state. I'd accepted
a very cool job, and when I reported to work, I was handed a file
CABINET and told that, "Oh yeah, we forgot to mention that you ALSO have
to get this done and off the books." I did it, but it aged me into the
shrunken, twisted wreck seen before you today.Grin

Seriously, I really think that the World is a very cool concept that
would have more than a few of the same problems I faced as a young man,
but different ones as well. If anybody comes across tales of the World
or the management folk, I sure enjoy reading about it.

Nonny

--
---Nonnymus---
You don’t stand any taller by
trying to make others appear shorter.

Thus spake Ray Goldenberg :

On Fri, 07 Sep 2007 13:48:25 -0700, Nonnymus wrote:

Nonnymus wrote:

I hit "send," before finishing some thoughts. Another thing that I
wondered about is whether there have been any resales and if so, were
they in the black or red?

Hi Nonny,

I will shed some light on this ship as I have sailed and booked
clients on her since her inagural. There have been resales but I
could not confirm the pricing so, unfortunately, could not confirm
whether they were in the red or black.

They have been very tight lipped about pricing. I know of someone who
deals in this type of market (he also resells very high end mega
yachts). They won't even discuss price until you've been vetted.

Thanks for the other answers.


Now that there's been a little graying of the ship's hair, I wonder how
it is doing financially. Anyone know?
They have had a very rough time financially. They originally hired
Silversea to sell and manage the ship. That agreement fell apart in
very short order. The original founder(s) ended up losing control and
the banks taking over. There were complaints from some of the
homeowners about transient guests staying onboard which led the
homeowners to eventully take over the ship's ownership. The funny
thing is they now encourage travel agents to book these transient
guests. I guess they decided they did need help in paying the ongoing
bills. ;+)

Other little things come to
mind- such as how the charges are apportioned to the owners. For
instance, is it done on the basis of square footage occupied or the
number of owners? For instance, does the owner of a large cabin pay the
same as the owner of a smalller one? Also, how much would it be per
month for a typical cabin?
The homeowners fees were based on the size of the cabins. The larger
ones paid more.

Other items in the show raised more questions than they did answers. For
instance, there's a dining room. If you're a resident, do you eat as
part of your monthly charges or is there an individual charge per meal?
We once belonged to a dinner club where there was a monthly assessment
coupled with a per meal charge. Your monthly assessment included a
"credit" that you had to 'eat up' each month. Is the World that way?
The dining room charges are not included if you were an owner. It is
strictly a pay as you go dining concept for the homeowners. There are
various plans for us transients g that included various meal
options.




Best regards,
Ray
LIGHTHOUSE TRAVEL
800-719-9917 or 805-566-3905
http://www.lighthousetravel.com
--
dillon

Elvis is still dead