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How is The World doing?


rosinryanz

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  • 2 weeks later...

The World is completely sold out so the only units available are through resale. On our recent voyage, everything was still very ultra-deluxe and I noticed no changes. What financial difficulties are you referring to? I know of none since the residents purchased the ship back in October, 2003.

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My wife and I toured The World in Vancouver last fall because we were (and remain) interested in purchasing a home onboard. It is completely first-class (people, vessel, systems - everything). We were looking at a 2 bedroom apartment with a price of approximately $2 Million. However the montly costs are very high - for that unit approximately $30,000. Yes, per month.

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OP must be thinking of something else...

 

the only "problem" would be if someone stopped paying their maintenance fee. first, they required $5MM net worth. second, considering the amounts involved, im sure they have better contracts, as well as legal representation, than are usual.

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Services and amenities are actually better than ever. On my recent trip there were a record number of residents and guests aboard without any negative effect on service. They've added a fabulous new sports bar and a children/teens program. I think the $5 million net worth number is very low. I don't think that's enough assets to comfortably afford the lifestyle - the annual maintenance fee of over $200K is killer, not to mention your transportation to and from the ship, your other residences and wardrobe! Many of the residents own more than one other home and spend only a few months per year aboard the ship so I would suspect the actual average net worth is much higher.

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from ~$90K/yr. but rentals could help offset that. not sure what the split is for rental program.

 

when it was taken private, current owners bought up the smallest studios. theoretically some may have resold since then.

 

but yeah, along those lines, even worst case and they need the income from a default, they just increase the $ per ft2, which gets spread over all other owners.

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