Cruise Ship Condominiums at the NYC Trump Expo
DESTIN, Fla., Nov. 15, 2006 -- "Own your own cruise ship" the company slogan goes. Condo Cruise Lines International is a Florida-based company that takes cruise ships that have been prematurely retired and refurbishes them while at the same time combining its staterooms into 1-3 bedroom luxury suites.
The cruise industry is booming and they can't build ships fast enough. With nearly 30 new ships planned for the next ten years, it is estimated that only then will the cruise industry begin to get caught up with its colossal demands. And the ships are getting bigger. Most new ships carry over 3,000 passengers and bigger are on the way. Some now have their own zip codes!
"It's an economy of scale for the major cruise lines," says Mark Boyd, President of Condo Cruise Lines. "It makes a lot more financial sense to build and operate one ship that can handle 3,000 passengers than ten ships carrying 300. So, many lines retire their midsize ships early, most with decades of useful life left. We will buy these ships and spend 15-20 million dollars reconfiguring them with luxurious multi-room suites, then turn around and sell them to individuals that want to own their own home on a world-class cruise ship. Visualize sightseeing over Africa in the ship's hot air balloon, a train trip across Spain, whale watching in the North Pacific, a jeep trip through the Outback in Australia... all that, and you're home for dinner!"
According to Cruise Lines International Association (CLIA), ships frequently leave port booked at 106% occupancy. Over ten million people cruise each year and eighty percent of them are American. That makes owning a condo on a cruise ship an intriguing "real estate" deal. Imagine having a waterfront condo that goes all over the world and brings in around $4,000 a week when you're not using it. And, unlike a true real estate deal, you pay no property taxes, no electric/water/phone/cable bill, no insurance, and you make around three times your mortgage payment as opposed to less than half with a beachfront condo. Plus... all your meals are cooked by a gourmet chef and are free!
Condo Cruise Lines' condominiums start at $382,000 and go as high as $1.3 million for a 3-bedroom Executive Suite. Homeowners Association fees run around $9-20,000 a year depending on the type of unit. The ongoing ship operating costs are covered by a certain number of staterooms that are not converted to condos and will be booked by travel agencies to the cruising public. All that revenue plus onboard passenger expenditures such as alcohol, duty free shops, shore excursions, and the casino contribute to the every day operating budget so the owners should never need to contribute beyond their annual association fee.
Boyd says there are two types of condo purchasers. "The first is the avid cruiser. Many of our customers cruise several months a year and this just makes good sense. The other is the savvy real estate investor. This is the best real estate deal anywhere," he says. "You have rental property where there is already a huge existing demand."
He's right. A large suite on the new Royal Caribbean Freedom Of The Seas was booked into 2008 before the ship was even launched! Other than the last-minute bargain basement fares thrown into the market by tour brokers, most people have to reserve a stateroom six months in advance in order to get a desired itinerary. On luxury ships like the ones Condo Cruise Lines is marketing, the wait is nearly a year.
The company has a booth in the upcoming Donald Trump Real Estate Wealth Expo this weekend at the Javits Center. The expo is produced by The Learning Annex and is conducted in a number of major cities nationwide each year. Prospective speculators can learn just about everything they would need to know to succeed in the world of real estate investing in just a single weekend. Condo Cruise Lines has exhibited at many of their shows across the country and sold over $12 million in condos in two days at last summer's San Francisco event.
Condo Cruise Lines International is headquartered in Destin, Florida and has representatives in San Francisco, Phoenix, and Dallas. The company's toll-free number is 877-350-5392. Their website is: http://www.condocruiselines.com and their location in the Trump Expo is booth 509-511.